Shiba Inu’s BONE Pumps 20% and Outperforms SHIB

Shiba Inu's BONE Pumps 20% and Outperforms SHIB

BONE, a cryptocurrency that is part of the Shiba Inu ecosystem and, in particular, the decentralized ShibaSwap exchange, has unexpectedly pumped up 20%. Meanwhile, SHIB is also rising but on a much smaller scale, and it is currently trading just 3.7% above today’s opening price.

Source: TradingView

What led to the surge in BONE quotations is unknown, although there are rumours online about the imminent release of new details regarding the long-awaited Layer 2 Shibarium protocol. Recall that the cryptocurrency is destined to play the role of a gas fee in the forthcoming innovation. Moreover, BONE should be a reward for developers and other contributors to the upcoming blockchain.

BONE has the advantage over SHIB of a limited and extremely small number of tokens. Thus, the cryptocurrency’s total supply is only 250 million tokens, of which 20 million are reserved for the aforementioned rewards. Because of this fact, as well as a relatively small presence on the major exchanges, BONE may be more susceptible to explosive price spikes as it is today. Thus, the current pump is followed by a 170% increase in BONE trading volume, as shown on the CoinMarketCap page.

BONE price action

BONE has now reached $1.16, where it had previously shown two opposing performances. So for the first time, BONE quotes drew a figure at these levels, which can be compared with Bart Simpson’s hairstyle. For the second time, however, at the end of August, BONE rose from this zone by 106% to reach its all-time high of $2.4.

Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.

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