The official Twitter account of the Shiba Inu token advised the community to "stay tuned for an upcoming event announcement in the next few days!"
SHIB, the native token of the ecosystem, spiked 5.22% following the tweet from Shibarium's official Twitter account.
The team cleared out rumors claiming that other "tokens in the network" are "required to utilize it" and noted that BONE "is and remains the only token selected for gas fees and use."
"This is to confirm and validate, from us, the official source, that BONE is and remains the only token selected for gas fees and use. No other tokens will be necessary to operate within the protocol," the Shibarium update read.
"We're still operating but will be scaling back to plan our next steps," Wyre co-founder Giannaros said.
The positive news fueled the price of DOGE and compelled it to signal a potential break out from the descending wedge pattern.
Kusama revealed in August 2021 that the Shiba Inu team had started working with Unification/XFund to complete Shibarium.
It turned out Alameda Research was on the brink of collapse even before Sam bankman-Fried launched the crypto derivatives exchange FTX.
SHIB maintained its seat in the list of crypto assets, which suggests that the development team is on the right track in handling the current market situation.
"Eligible customers will be sent an email with information on how to open a Liquid account in mid-January," FTX Japan said.
"There's definitely more to Solana than FTX," Solana co-founder Anatoly Yakovenko said in an interview last month.
At least 30 cryptocurrency wallets linked to Alameda Research swapped and mixed more than $1.7 million worth of crypto assets via different crypto-mixing services.
The developer also made it clear that if the proposal were true, the foundation would have to involve the community before making a move.
"But seriously... I'm just putting a nice bow on it so we can reach those outside the army and then there are a lot of docs to organize and put up and then VOILA," Kusama said.
A Pastebin post, presumably made by those who have the API keys, claimed that the crypto exchange allegedly sold users' data to the highest bidder and not a result of a code exploit.
The exchange assured its customers that it "is fully funded to ensure all affected clients can withdraw their assets in a timely manner."
Solana was once pegged as a viable rival to Ethereum.
"I was involved with a team that operated a highly profitable trading strategy last week," Eisenberg said in October.
"As a bank, we're not getting into the crypto world, crypto trading, crypto exchanges," HSBC Group CEO Noel Quinn said in September.
The FTX meltdown triggered the filing for bankruptcy of multiple businesses, questioned the audit conducted on crypto businesses and planted a seed of doubt in investors' minds, but it also has a positive effect on the crypto space.
Before its official launch, the Shiba Inu development team will first release the Shibarium documentation and will roll out the beta version of the project for users to try it out.
The app is structured based on ESG criteria, which emphasizes that the company's financial interest is centered on sustainable and ethical standards.
It appears that some of the pseudonymous lead developer's followers may have confused the countdown of the official launch of the Shibtoken website with the highly anticipated Shibarium announcement.
Visa is well-aware of the fact that Ethereum beat it in this area and perhaps instead of creating its network, the payments giant would rather apply the worn-out adage that says, "if you can beat them, join them."
According to one Shib Army, the devs are already testing the blockchain version of the collectible card game.
Malicious actors use the official Ledger Support Twitter account to pick out victims of their elaborate scam.
According to the Shiba Inu developer, the team will first roll out the update on the ecosystem's website, which they said: "was much needed."
Kusama said, "great choice...BONE" to the Binance ad, which shows an adorable dog getting its treat.
Shytoshi Kusama assured the community that it's just a matter of time before Shibarium officially rolls out and noted that its arrival is "not that long."
SHIB traded at $0.000008692 in the early morning of Tuesday, but a few hours later, its price surged by more than 7%.
