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Shibarium's BONE Pumping, Here Are Possible Reasons

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Mon, 3/07/2023 - 11:53
Shibarium's BONE Pumping, Here Are Possible Reasons
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Bone ShibaSwap (BONE) token is pumping, rising slightly less than 10% within the past 24 hours. There may be a couple of reasons for that price action.

BONE up 8% as Shytoshi Kusama issues new statement

BONE is a governance token of the ShibaSwap DEX (the official decentralized exchange of Shibarium), but it is also the gas token for Shib's Layer 2 blockchain that the SHIB team is about to launch.

Shytoshi wrote in the "Shibarium Tech" channel on Telegram yesterday that he is "too busy starting the launch process of a blockchain." He mentioned it since the SHIB community on Telegram asked him to tweet that Shib 2.0 is a scam, according to a message he posted earlier that day.

However, Kusama responded that he has no time to tweet about every SHIB-related scam that emerges. Therefore, he hinted that the launch of Shibarium mainnet may be coming soon.

Article image
Source: "Shibarium Tech", Telegram

Last week, Kusama mentioned on Telegram that "everything is already set" and that he cannot change the date or place, as this is a part of his "launch strategy" for Shibarium.

This was likely the driver for the price increase demonstrated by BONE; within the last 24 hours, the token has pumped 8%. At the time of this writing, BONE is changing hands at $1.01.

Related

Test Shibarium transaction peak powered by BONE

As mentioned above, BONE is a token in which gas fees are paid on Shibarium, and a testnet has been running since March 11, dubbed Puppynet.

As of now, the cumulative amount of transactions on it has surpassed 17.5 million, which is a new all-time high. However, Shytoshi Kusama has warned the community several times that since this is still a testnet, all the tokens used on it are not real and are used for test purposes only.

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