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Shiba Inu's BONE Price Suddenly Spikes 20%, Trading Volumes Surge 255%

Mon, 09/12/2022 - 15:58
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Tomiwabold Olajide
BONE was changing hands at $1.96, up 17.16% in last 24 hours
Shiba Inu's BONE Price Suddenly Spikes 20%, Trading Volumes Surge 255%
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The Shiba Inu governance token, BONE ShibaSwap (BONE), suddenly rose over 20% as its price dip to $1.61 on Sept. 11 was met with buying. Alongside the jump in price was a 255% increase in trading volumes. At the time of publication, BONE was changing hands at $1.96, up 17.16% in the last 24 hours, per CoinMarketCap data.

BONE ShibaSwap, Courtesy: CoinMarketCap

Over the weekend, BONE squashed the 230 million token cap, which led to the halting of BONE minting. While BONE's maximum supply remains at 250 million, the remaining 20 million is left for gas and validators on Shibarium.

SHIB Might Lose One Zero in Price; Key Pattern Seems to Be Forming

Bone was a top gainer in August, with its price boosted by news of exchange listings. In the past week, Cayman Islands-based crypto exchange BitMart announced the listing of BoneShibaSwap (BONE). In late August, the leading cryptocurrency exchange with over seven million users, LBANK, added support for Bone ShibaSwap on its platform.

Following the official halt of BONE minting, an upcoming reward token named "TREAT" will be introduced, deriving rewards for the SHIB Metaverse, the blockchain version of the SHIB CCG game, and the ecosystem in general. The timing of the "TREAT" token launch, however, remains unknown.

Shiba Inu holders to receive 8% cashback on Binance Card purchases

As reported by U.Today, holders of Shiba Inu and other cryptocurrencies supported by Binance Card can now enjoy 8% cashback on purchases made with their crypto. Likewise, holders can use their assets to make their purchases and pay bills at over 90 million Mastercard merchants worldwide, both in-store and online.

At the start of August, Binance added Shiba Inu and two other cryptocurrencies to the list of supported cryptocurrencies on Binance Card.

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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.