A look at BONE as Shiba Inu reveals new details


18 Sep 2023 5:30 AM

Shiba Inu’s latest blog revealed new information about BONE and a few other key details......

  • Shibarium, the layer 2 solution of Shiba Inu (SHIB), is experiencing increased adoption and usage.
  • The recent blog post by the Shiba Inu team highlighted the technicalities of the ecosystem, including the deployment of the BONE token and the addition of a timelock contract for investor protection.
  • Shibarium has surpassed 1.2 million total wallets and processed over 2.8 million transactions.
  • However, the price of BONE has dropped by more than 12% in the last seven days, causing it to slide down the list of top cryptocurrencies.
  • SHIB, the flagship token of the ecosystem, has also experienced a decrease in value, with its market cap dropping by over 2% in the last 24 hours.
  • CryptoQuant's data indicates high selling pressure on SHIB, potentially leading to further price decline.

The article highlights both positive and negative aspects. The positive aspects include the growing adoption and usage of Shibarium, while the negative aspects include the price drop of BONE and SHIB tokens.

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You May Ask

What is Shibarium and what updates have been released for it?How does the BONE token protect investors?What are the current stats of Shibarium in terms of wallets and transactions?How has the price of BONE and SHIB tokens been performing recently?What data suggests high selling pressure on SHIB and its potential impact on the token's price?

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