Will BONE Bury SHIB? Shibarium Launch Sparks Existential Crisis

The long-awaited Shibarium layer-2 solution is finally launching today. While the community awaits the rollout with bated breath, an uncomfortable question lurks beneath the surface:

Could Shibarium signal the beginning of the end for Shiba Inu?

On the face of it, Shibarium should boost the ecosystem. The Ethereum-based scaling platform will enable fast and cheap transactions, opening the door to mass adoption. Gas fees have severely limited Shiba Inu’s potential up to now.

However, Shibarium revolves around the BONE token for governance and paying gas fees. Shibarium even mints new BONE with each transaction.

This begs the question – with BONE taking center stage, does SHIB now play second fiddle in its own ecosystem?

Some speculate whether the mint-and-burn mechanics could drain value from SHIB into BONE. Others point to BONE’s central governance role reducing SHIB’s utility.

In fairness, the team emphasizes both tokens remain crucially important. But it’s unclear whether the ecosystem can sustain two thriving assets without a breakdown in the equilibrium.

While Shibarium should unlock new capabilities, the very utility it provides for BONE could come at the expense of Shiba Inu. SHIB was created as a spontaneous memecoin without a roadmap. Now a more sophisticated structure has bolted itself on top.

For SHIB to avoid creeping irrelevance, it needs to entrench its positioning at the center of the ecosystem. Else it risks being relegated to a fringe role as BONE takes the steering wheel.

The coming months will undoubtedly prove decisive. If Shibarium can propel sustainable growth for both SHIB and BONE, fears of obsolescence will dissipate. But any breakdown in the equilibrium could see Shiba Inu fade into insignificance.

For now, cautious optimism prevails. But some uncomfortable truths lurk not far beneath the surface. The memecoin that captured lightning in a bottle must once again demonstrate its relevance in a maturing ecosystem.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com


Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

We will be happy to hear your thoughts

Leave a reply