Shibarium’s BONE Pumping, Here Are Possible Reasons

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.

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.

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.