Shiba Inu’s governance token BONE surged nearly 50% in 14 days as the launch date for Shibarium edges close.
Bone ShibaSwap (BONE), Shiba Inu’s governance token, has continued its tremendous rally. The canine-themed cryptocurrency has been rallying since it plunged to $0.665 on June 10 after the SEC sued Binance for operating an unregistered crypto exchange.
At press time, BONE is currently changing hands at $1.17, representing a surge of 77.27% from its June 10 low. According to CoinMarketCap (CMC) data, BONE is currently up 14% over the past 24 hours. Similarly, the Shiba Inu governance token is also up 31% over the past seven days.
BONE is also up 48% in the past 14 days, making it one of the best-performing meme-based tokens recently. Interestingly, BONE continues to experience a massive spike as most crypto assets remain in the red.
BONE Outperforms SHIB and DOGE
On the daily chart, BONE is currently outperforming other top canine-based cryptos, including SHIB and DOGE. At the time of writing, SHIB and DOGE were down 0.35% and 0.23%, respectively.
It is not surprising to see BONE outperform SHIB and DOGE. BONE has been rallying after Shiba Inu’s pseudonymous lead developer Shytoshi Kusama revealed the possible launch date for Shibarium yesterday.
BONE Rallies As Shibarium Launch Nears
As reported earlier, Kusama hinted at the possible release and discussion of Shibarium at the Blockchain Futuristic Conference. The event, which will be held on August 15-16, 2023, is scheduled to take place in Toronto, Canada.
Notably, Shibarium will utilize BONE as its official gas token. For clarity, users will need BONE to execute transactions on Shibarium.
Following impressive activities on Puppynet, people speculate that BONE’s adoption will skyrocket after the release of the mainnet version of Shibarium. According to data from Puppyscan, Shibarium’s testnet Puppynet has completed a total transaction of 27,637,335 from over 17.06M wallets.
Meanwhile, Shiba Inu community members are confident that BONE will continue to soar in the coming weeks. Earlier this month, Shiba Inu’s marketing specialist Lucie predicted a $2 – $3 price for BONE.
it’s time for $2-$3 serious pep talk pic.twitter.com/1MQgUHnXCw
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 3, 2023
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Source: https://thecryptobasic.com/2023/07/07/shiba-inu-bone-spikes-nearly-50-in-14-days-as-shibarium-launch-nears/?utm_source=rss&utm_medium=rss&utm_campaign=shiba-inu-bone-spikes-nearly-50-in-14-days-as-shibarium-launch-nears