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Shiba Inu's BONE Outperforming SHIB, This Might Be Why

Sat, 11/05/2022 - 12:14
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Tomiwabold Olajide
SHIB is also up, but on lesser scale
Shiba Inu's BONE Outperforming SHIB, This Might Be Why
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BONE, a cryptocurrency that is part of the Shiba Inu ecosystem and, in particular, the decentralized ShibaSwap exchange, has risen over 10% in the last 24 hours. Meanwhile, SHIB is also up, but on a lesser scale.

At the time of publication, BONE was changing hands at $1.14, up 8.5% in the last 24 hours, while SHIB was trading up 2.45% at $0.00001276. The rise in BONE's price also corresponds to a 77% rise in trading volumes.

The last 24 hours have seen BONE gain attention as the Shiba Inu team posted a teaser specifically on BONE.

StealthEX, a cryptocurrency exchange for limitless swaps, has also added Shiba Inu's BONE to the list of supported assets, which would allow users to exchange or swap BONE with over 600 supported assets.

Shiba Inu's BONE Token Now Listed on Another Crypto Exchange

Shiba Inu lead developer, Shytoshi Kusama, says his focus has now turned to Shibarium, which consequently includes BONE, the gas of the Layer 2 solution.

Shibarium close to public beta release

BONE is expected to be utilized as "gas" and a reward for validators. For this specific role, 20 million BONE have been set aside.

In a recent blog post, Shiba Inu Layer 2 builder Unification shared what was happening with Shibarium under the caption "Wen L2? Sewn!"

SHIB: Here's What's Happening with Shibarium per Recent Update Provided by Builder

Unification maintains that its work with the Shibarium team remains its core external project for the year and is moving forward with great strength. It highlights ongoing work on the alpha version while saying it is close to the public beta release.

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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.