BONE Token Hits 3M Daily Transactions, What’s Next?

• BONE achieved a 3 million daily transactions milestone, according to data from Shibarium Explorer.
• SHIB community expects rising transactions to impact BONE’s price in the crypto market.
• BONE achieved a remarkable $148 million market capitalization and reached a price of $0.592331 last Monday.

Network activity on BONE, one of the crypto tokens in the Shiba Inu ecosystem, reached a landmark, recording three million daily transactions on Monday, February 19. The Shib project’s representative on X posted about achieving this target a few hours before realization. The post suggested the rising number of transactions would lead to an eventful week for the meme coin project. 

Data from the Shibarium explorer showed that BONE achieved a remarkable $148 million market capitalization and reached a price of $0.592331 on Monday when the daily transactions reached three million. That marked a positive development for the BONE project, which has struggled under bear pressure since the beginning of 2024.

As of the time of writing, BONE’s network activity was significantly high on the Shibarium network, recording up to 93.23% network utilization. The network continuously recorded multiple successful transactions, with an average fee of 0.00002 BONE.

Another crucial metric observed for BONE as of writing is the 3,270,912 blocks already formed on the Shibarium explorer, with an average block time of five seconds. Also, the total BONE transactions on the network have climbed above 361 million across over 1.3 million wallet addresses.

The growth in on-chain metrics observed for BONE is yet to reflect on the digital tokens price, which traded for $0.5935 at the time of writing, according to data from TradingView. However, the SHIB community appears optimistic, with their representative on X wishing the rest of the group an “interesting” week ahead.