With Shibarium confirmed, Shiba Inu’s BONE breaks into coveted list
Bone ShibaSwap [BONE] , the governance token of the Shiba Inu [SHIB] decentralized ecosystem, became number 99 in terms of market capitalization for the first time. This happened as the project’s official Twitter Page confirmed that the Shibarium beta would happen in the “next week.”
<p lang=«en» dir=«ltr» xml:lang=«en»>The most #important topics for everyone! 1. It has been confirmed that #Shibarium Beta will be released next week 2. Over a million #Shiba holders will buy $bone for very low fees and burn $Shib with every transaction. 3. You will need #bone for everything in the #shib ecosystem— BoneShibaSwap (@BoneShiba) February 21, 2023
Realistic or not, here’s BONE’s market cap in SHIB’s terms
Prior to the disclosure, there were speculations that the event would occur in the week before the now-confirmed period. These rumors had triggered increased demand for SHIIB.
According to CoinMarketCap, the BONE market cap gained 35% in the last seven days, allowing it to reach the landmark. The price also exchanged hands at $1.85, meaning that the token holders were able to make over 174% in profits.
One part that the BONE hammered on that was vital to Shibarium was the SHIB burn. The mechanism involved sending tokens to dead wallets, and being unable to retrieve them. The objective was to make maximum supply scarce with a positive price input.
Now, BONE established that the beta launch will allow SHIB holders to buy the governance token while burning SHIB. Hence, BONE’s part in the layer-two (L2) Shibarium blockchain is important.
At press time, Shibburn revealed that the rate had decreased by 91.88% in the last 24 hours. But as BONE pronounced the burn activity valid, the rate had the potential to increase by
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