The BONE token, part of the Shiba Inu cryptocurrency ecosystem, has witnessed a remarkable 10% gain in just 24 hours. This rise sets it apart from other notable cryptocurrencies, including Dogecoin and Pepe Coin, which have been experiencing declines.
Key Points:
- BONE Outperforms: Currently trading at $0.90, BONE’s performance outstripped Dogecoin (down 0.97%) and SHIB and PEPE, which have declined 1.23%.
- BONE Contract Renouncement: A significant advancement has been made towards renouncing Bone ShibaSwap’s gas token, BONE. BONE is the official token of Shibarium. The Shiba Inu development team announced that minting the remaining BONE supply is almost complete.
- Introduction of Calcium Token: Shiba Inu introduced a temporary token named Calcium to aid in the renouncement of BONE. It’s worth noting that Calcium is not meant for trading due to its inherent lack of liquidity.
- Developer Insights: Shiba Inu developer Kaal Dhariya confirmed that BONE has been renounced via the TopDog contract. He emphasized the team’s commitment to fostering decentralized and permissionless systems for the community’s betterment.
- BONE Token Metrics: According to data from Coinmarketcap, BONE’s circulating supply is pegged at 229,923,351 tokens, translating to a market valuation of around $181.6 million. To achieve the anticipated total supply of 230 million, an additional 76.649 million BONE tokens were minted.
- Shift to TREAT Token: Once the minting of BONE concludes, the rewards linked to BONE on the ShibaSwap platform will be terminated. These rewards will transition to a newly announced token named “TREAT.” Shytoshi Kusama, the lead developer of Shiba Inu, shared this update, but more specific information about TREAT’s role and functionality within the Shiba Inu ecosystem is yet to be disclosed.
This development in the Shiba Inu ecosystem reflects the dynamic nature of the cryptocurrency world. Investors and enthusiasts are closely monitoring the Shiba Inu’s progress, particularly given the recent heightened attention and traction that tokens like SHIB and BONE have garnered.
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Source: https://bitcoinworld.co.in/bone-token-surges-as-developments-in-the-shiba-inu-ecosystem-progress/