ShibaSwap Team Says Shiba Inu Can Reach $1

The team calls for maximum community support for Shibarium and BONE.

The team behind ShibaSwap, the native decentralized exchange (DEX) for the Shiba Inu ecosystem, has asserted that Shiba Inu can attain a $1 price. Still, this ambitious goal can only materialize if the community provides maximum support for Bone ShibaSwap (BONE) and Shibarium.

The ShibaSwap team recently shared this statement on their official Twitter account as they sought to rally support from members of the community. “The important question is, what if everyone knows that the way Shib can reach 1$ is maximum support of bone and shibarium?” the tweet reads.

#ShibArmy #BoneArmy #Shiba #Gas
The important question is, what if everyone knows that the way #Shib can reach 1 $ is maximum support of $bone and #shibarium? Because #Shibarium layer2 blockchain burns $Shib in every transaction and #bone is the cause of all these works! . . .

— BoneShibaSwap (@BoneShiba) February 12, 2023

Per the team’s statement, Shibarium and BONE are considered the foundation of the Shiba Inu project. It is worth noting that BONE presently operates as the governance token for the ShibaSwap DEX and is projected to serve as the gas token for Shibarium once it launches.

Notably, the ShibaSwap team considers Shibarium’s capacity to burn SHIB tokens in every transaction as one of the key drivers that could propel the price of SHIB to $1. Furthermore, the team views BONE as just as critical as it will serve as the backbone of Shibarium, functioning as the L2 network’s gas token.

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One of the most attractive features of Shibarium is its potential to expedite SHIB burns by incinerating tokens at an impressive rate. In a comprehensive introductory article on Shibarium released last month, the Shiba Inu team disclosed that they were developing a dedicated burn portal for the L2 network, providing insight into how the network would incinerate SHIB tokens.

Moreover, in response to the Shiba Inu Telegram group, lead developer Shytoshi Kusama confirmed that the goal of Shibarium is to burn trillions of SHIB. In addition, he noted that the network would likely introduce more development into Shiba Inu, as several projects show an interest in leveraging it. Some of these projects, including Paw Token, have already indicated an interest.

Shibarium’s potential to revolutionize Shiba Inu remains one of the primary triggers of the hype surrounding its imminent launch, which is expected before May.

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