Shibarium's utility expected to skyrocket
This remains significant, as most cryptocurrencies posted marginal gains in the wake of the recent Fed interest rate decision. Shiba Inu (SHIB) was only marginally higher, or 0.28%, in the last 24 hours, to $0.00000782.
The jump in BONE prices follows as the Shiba Inu ecosystem achieves two milestones: first, the Shibarium Ethereum bridge launches for public testing. Second, Shiba Inu has received a new gold check mark on its X account.
Lucie alluded to the Shibarium bridge in late April, saying it was partly functional. This bridge is now available for public testing after months of development, marking a significant milestone.
The bridge would allow users to move tokens between the two networks without introducing third-party risks or affecting market liquidity, as well as serving as a scaling solution.
On Ethereum, there are currently over 450,000 ERC-20 tokens. Shibarium's utility is expected to skyrocket if the bridge, which supports ERC-20 tokens, is activated.
Shiba Inu's 3.4 million-follower X account has acquired a new gold check mark, certifying its status as an official company account through Twitter's Verified Organizations program, as previously reported.