Shib Army News: Politician Shannon Bray Talks Shib/ETH But Many Industry Analysts See A Strong Comparison Between Bone/ETH 2015

The Shiba Inu ecosystem has gained significant attention in the cryptocurrency market, with US politician Shannon Bray expressing his bullishness for the project. While Bray highlighted the correlation between Shiba Inu (SHIB) and Ethereum (ETH), industry analysts are now focusing on the technical comparison between the Shiba Inu Ecosystem Token, $BONE, and Ethereum.

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$shib and $eth are typically in lock step. This is where my #shib bullishness comes from. I do like to see when it breaks up on its own. That's #shibarmy in action. pic.twitter.com/30tjktduj2

— Shannon Bray ? (@ShannonBrayNC) June 18, 2023

Shibarium and the $BONE Token:

One of the key factors contributing to the comparison between $BONE and Ethereum is the Shibarium layer-2 solution. Proposed by Shiba Inu’s founder, Ryoshi, and developed by SHIB Developers & its official Partner UNIFICATION, Shibarium aims to provide faster and more cost-effective transactions. It is expected to have transaction approvals in seconds and nominal fees, similar to the early stages of Ethereum.

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Gas Token Comparison:

A significant aspect of the technical comparison between $BONE and Ethereum is their respective roles as gas tokens. Ethereum relies on Ether (ETH) as its native cryptocurrency for gas, which is used to pay transaction fees and computational resources on the network. Similarly, $BONE serves as the exclusive gas token for the Shibarium layer-2 solution within the Shiba Inu ecosystem.

Go $BONE ?!
The Gas ⛽️ For #SHIBARIUM! pic.twitter.com/245dWHueS3

— Shib Dream * Shiba Inu News * Shib Army Social ? (@theshibdream) June 19, 2023

Scaling Solutions and Network Efficiency:

Ethereum has faced challenges with scalability due to its proof-of-work (PoW) consensus mechanism, leading to network congestion and high fees during peak usage periods. In contrast, the Shibarium layer-2 solution aims to address these scalability issues by utilizing off-chain transactions, reducing congestion, and significantly decreasing transaction costs. The parallel between $BONE and Ethereum lies in their shared objective of improving network efficiency and scalability.

Development and Community Support:

Ethereum’s success can be attributed to its strong developer community and widespread adoption. Similarly, the Shiba Inu ecosystem has garnered considerable attention, with developers eagerly awaiting the release of Shibarium to build innovative projects within the ecosystem. The support and involvement of the community play a crucial role in the success and growth of both Ethereum and $BONE.

Price Action and Future Potential:

When examining the historical price action of Ethereum, industry analysts draw parallels to the potential price trajectory of $BONE. Ethereum experienced significant growth after being listed on major exchanges, attracting more interest as it became widely adopted. With $BONE’s upcoming listings and its role as the gas token for Shibarium, there is speculation that it could follow a similar price trajectory, especially as more announcements regarding Shibarium are made. Below is a chart of Eth from August 2015 the same month that many are speculating Shibarium to be released.

The Shibarium layer-2 solution, $BONE’s role as a gas token, network efficiency improvements, community support, and historical price action all contribute to the parallel drawn between the two. As the Shiba Inu ecosystem continues to evolve, it will be interesting to monitor the development of Shbarium and the impact that $BONE will have on the entire crypto Market. This does not take away from $SHIB as not only are they both in the same ecosystem but SHIBARIUM and many of the projects that are being built upon will burn Shib with every transaction its circulating supply.