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Shiba Inu's BONE Gains 130% More Traders After Shibarium Launch

Thu, 09/07/2023 - 14:55
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Tomiwabold Olajide
BONE attracting inflow of traders
Shiba Inu's BONE Gains 130% More Traders After Shibarium Launch
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Shibarium token BONE is attracting an inflow of traders, according to data from IntoTheBlock, demonstrating a 130% spike.

Per the IntoTheBlock chart of addresses by time held, the significant rise specifically began during the week of Shibarium's initial launch on Aug. 16.

BONE Addresses by Time Held, Courtesy: IntoTheBlock

This can be seen from Aug. 13, when BONE trader addresses were at 5,790, to Sept. 1, when they reached 12,320. The number slightly declined to 11,690 on Sept. 6.

IntoTheBlock collects addresses based on how long they have held a given asset. These addresses are divided as follows: Hodlers are addresses that have held the asset for a year or more.

Cruisers are addresses that have kept the asset for one to twelve months, whereas Traders are addresses that have held an asset for less than one month.

Looking closely at the makeup of these groups for BONE reveals a variety of current vistas. Hodlers and traders both grew, whereas cruisers decreased.

At the time of writing, BONE was down 1.66% in the last 24 hours to $0.99, mirroring the fall in the general crypto market.

Shibarium sees 25 million BONE staked

Shibarium has now been relaunched and is running smoothly. According to a screenshot shared by Shiba Inu team member Lucie in response to a critic, 25,926,116 BONE constitute the total staked in Shibarium.

In another positive development for Shibarium, the Shibburn initiative has relaunched a demo page estimating Shibarium's potential burns of Shiba Inu (SHIB) tokens. It is worth noting that the "estimate-only" page launched last week was taken down by the Shibburn team.

Shibarium Token BONE Smashes Big Adoption Milestone: Details

However, the team relaunched the page due to growing demand: "Okay guys, the page is available once again because some friends requested it, but please understand that this is just an estimate based on some of the numbers we have set."

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.