BONE, the gas token of Shibarium, which plays a critical role in the Shiba Inu ecosystem, attracted attention with its recent rise. The BONE token moved towards $1 during the day, briefly rising to $0.97. According to current data, BONE is trading at $0.922, an increase of 20% from the previous day.
In parallel with this increase, the 24-hour trading volume increased by 116% and reached a value of $ 19,277,487.
BONE has actually been experiencing a steady rise for the last week, it is possible to say that today’s sudden rise is a continuation rally. A week ago, BONE was trading below the daily MA 50 barrier of $0.69, and it made a move above this level for the first time in months.
Shibarium began experiencing a noticeable increase in transactions in late November. The total number of transactions has gained remarkable momentum, rising from 4 million to 59 million since the November close. Currently, Shibarium’s total number of transactions has reached 59,922,150, while the total number of blocks stands at 2,007,410.
Shiba Inu developer Kaal Dhairya made an important statement about this increase, emphasizing that the increase in Shibarium transactions was not due to spam transactions, but to SRC-20 token printing. This announcement created a positive impact among investors by increasing trust in the ShibaSwap protocol and ecosystem.
With thousands of BONEs spent, gas fees increased tremendously, leading to SHIB burns growing exponentially. One of the latest statements on this subject appeared on the official blog of the Shiba Inu team, stating that this situation is hopeful for the future of Shibarium.
Shibarium has two different token burning mechanisms: manual and automatic. Developing and optimizing these mechanisms seems to be one of the important steps that will strengthen the SHIB ecosystem. According to the statements made, the Shibarium network is expected to undergo various updates in the near future. These updates will streamline both manual and automatic burns, allowing the SHIB community to trade more efficiently.
Another factor that was effective in BONE’s increase in value was its new stock exchange listing. Crypto platform CoinRabbit announced that it had listed BONE, which contributed to the token reaching a wider audience. Shytoshi Kusama, the leader of Shiba Inu, drew attention to this new listing announcement by CoinRabbit and emphasized the continuous growth potential of the SHIB ecosystem.
In conclusion, these current developments within the Shiba Inu ecosystem, along with increases in BONE value, appear to be contributing positively to the overall success of the project. Shibarium’s impact within the rapidly growing ecosystem further strengthens the Shiba Inu community’s excitement and hopes for the future.
You can follow the current price movement here.