Shiba Inu-based cryptocurrency platform DogPad Finance has announced an investment of $50,000 in altcoins. The investment in the Shiba Inu ecosystem supports the soon-to-be-launched Shibarium network.
DogPad Finance announces $50,000 cryptocurrency investment
DogPad Finance, which is set to migrate Shiba Inu’s Shibarium network, reported that it has recently invested $50,000 in ShibaSwap’s token, Bone ShibaSwap (BONE).
In a recent tweet, the DogPad team emphasized that they will continue to support the Shiba Inu community, the Shibarium and ShibArmy. It was stated that the $50,000 BONE investment is one of the ways they aim to convey their solidarity with Shytoshi Kusama and the Shiba Inu ecosystem.
DogPad is about supporting #Shibarium & the #ShibArmy, which has been recently attacked by multiple fuds which were already cleared
As to show support towards @ShibToken & @ShytoshiKusama's plans, the DogPad team is proud to announce the investment of 50,000$ worth of $BONE pic.twitter.com/JZG9sqtNdN
— DogPad Finance on Shibarium! (@DogPadFinance) March 16, 2023
A screenshot shared in the investment announcement shows the DogPad team exchanging 30 ETH with an estimated value of $50,335 at the time for 40,282 BONE tokens. BONE is the cryptocurrency to be used in gas fees for Shibarium. The token will also function as the platform’s liquidity pool token after the DogPad Finance migration to Shibarium.
It should be noted that the investment news came at a time when claims that Shibarium was a ‘copy’ of another network were on the agenda. With this move, the DogPad Finance team aims to further their solidarity with the Shiba Inu ecosystem.
More BONUS will be purchased with each drop
The project team stated that the DogPad ecosystem understands the importance of BONE to them and is committed to supporting its growth. One of the ways they plan to do this is by investing more in BONE with each drop. This move could help boost demand and support the BONE price action.
Meanwhile, BONE is battling the bears after a massive drop recently triggered by the latest FUD surrounding the Shibarium. With a 20% drop compared to last week, BONE has the highest loss in the top 150 list. However, it has managed to climb as high as $1.33, up around 3% in the last 24 hours.
About DogPad Finance
DogPad Finance is a crypto ecosystem that aims to simplify token creation and management on the Shibarium network. Its flagship feature is LaunchPad, which provides an interface for managing initial DEX offerings (IDOs), fundraising, and token distribution.
Alongside LaunchPad, DogPad offers additional tools and services to streamline the token generation process. Although its native token is DOGPAD, the ecosystem plans to use BONE as a private liquidity pool token after the transition to Shibarium.
As Kriptokoin.com, we mentioned that the crypto agenda has been busy with interesting Shiba Inu news lately. In particular, claims that Shibarium is a ‘copy’ of another network significantly suppress the prices of Shiba Inu ecosystem tokens.
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