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Shiba Inu's BONE Jumps as Shibarium Launch to Land in One Week

Tue, 08/08/2023 - 12:32
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Yuri Molchan
Shibarium token BONE has shown price rise after weekend of poor performance
Shiba Inu's BONE Jumps as Shibarium Launch to Land in One Week
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Contents

Over the past 24 hours, the Bone ShibaSwap token has demonstrated a recovery after a large price decline faced over the weekend.

Shibarium trifecta tokens surge ahead of mainnet launch

After dropping slightly more than 7% by Monday, BONE has added approximately 4%, partly recovering from its weekend losses within the last 24 hours.

BONE is the governance token of Shibarium's DEX, ShibaSwap. Besides, it is meant to be used as a gas token on the Shibarium Layer 2 blockchain of SHIB to pay transfer fees.

Another token from the Shibarium trifecta — Doge Killer (LEASH) – has also risen in price, reaching $534 per unit by now; it is the result of a modest 4%+ growth since yesterday morning, according to CoinMarketCap.

The much-expected release of the Shibarium mainnet is likely to occur on Aug. 15-16 during the Blockchain Futurist Conference in Toronto.

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SHIB sell-off pushes price down deep

Shiba Inu (SHIB) itself, the major token of the SHIB ecosystem, saw a massive 20% surge at the start of the weekend, removing one zero from the price and reaching the $0.00001023 level. That did not last long, though, as traders and whales began to unload their bags of SHIB to make healthy profits on the rise.

The sell-off pushed the popular meme cryptocurrency down 11.82%, as it is now changing hands at $0.00000901.

Recently, the pseudonymous lead dev of Shiba Inu, Shytoshi Kusama, tweeted that the SHIB team is going to mint the rest of the remaining supply of BONE and renounce the Bone ShibaSwap contract to stop any further creation of this Shibarium token.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.