Shiba Inu (SHIB) is primed for the imminent launch of its layer-2 network, Shibarium, as shared by SHIB’s lead developer, Shytoshi Kusama, who predicts a debut in the next two to four months.
As the launch approaches, the governance token of the network, Bone ShibaSwap (BONE), has been gaining traction with increased listings.
The latest development comes from popular cryptocurrency exchange, Huobi, which has recently listed BONE as an offspring token of Shiba Inu. The exchange has opened up deposits for BONE and is gearing up for trading to commence shortly.
Following Huobi’s listing, BONE, the governance token of Shiba Inu’s Shibarium, has also gained traction on other exchanges. CetoEX, a Dubai-based crypto exchange, has announced its listing of BONE, while OKX has listed BONE and significantly increased its holdings by 400%, now ranking as the fourth-largest holder of BONE.
An interesting aspect to highlight is that both CetoEX and OKX conducted polls among their users and followers, and BONE received majority votes on both platforms. This underscores the growing demand for Shiba Inu’s Shibarium governance token, further amplifying its popularity in the crypto community.
What’s the Latest on BONE
The recent news of new listings has had a positive impact on BONE’s price, with the token experiencing an 8% rally on the daily charts on April 24th. As of today, BONE is up by 4.6% on the daily charts.
According to data from IntoTheBlock, a majority of BONE holders (54%) are currently in profit, with 7% breaking even, and 39% at a loss. In contrast, for SHIB, only 28% of holders are in profit, while 70% are at a loss.
Furthermore, long-term BONE holders make up 32% of the total, while mid-term holders account for 61%. It’s possible that some mid-term holders may transition to becoming long-term holders once Shibarium goes live, especially if Shiba Inu’s ecosystem proves to be lucrative.
BONE’s social media presence has seen interesting trends, with social mentions decreasing by 41.26%, but engagements skyrocketing by 460.5%. This suggests that while there may be less content related to BONE online, the existing content is generating a significant level of engagement from users.
This could indicate a high level of interest and interaction with the limited available content about BONE across social media platforms.
As of the current press time, BONE was being traded at $1.048, experiencing a slight decrease of 0.54% in the last hour. In contrast, SHIB was trading at $0.00001020, with a minor decline of 0.1% in the last hour. Please note that cryptocurrency prices can be highly volatile and may change rapidly.