Bone ShibaSwap (BONE) expected to emulate BNB’s price growth as a top Shiba Inu community member highlights core similarities.
The latest on-chain data has shown an increased investor interest and social dominance for the Shiba Inu ecosystem token, BONE. The upcoming Shibarium launch primarily induced this positive development.
Amid the impressive performance displayed by BONE, several Shiba Inu community members eye a higher surge post-mainnet Shibarium launch. Notably, the asset rose to nearly $2 last July, as previously reported.
Adding to the bullish price expectations, a community figure recently compared the Bone Shibaswap governance token and BNB. According to them, BONE could emulate BNB’s price growth, with Shibarium as a catalyst.
? Check Out The Parallels between $BNB & $BONE ?
1/ Hey #CryptoFamily, let's take a look at the similarities between $BNB and $BONE—coins that are carving their niche in different layers! ? Stay with me and follow this thread. ?
#Shibarium#SHIBARMY #bone #BNB #Crypto— randomartz (@randomartz3) August 11, 2023
BONE and BNB Similarities
BNB serves as the gas token of the Binance Smart Chain ecosystem. Accordingly, validators and delegators on the BSC network are required to stake BNB to facilitate transactions.
As a result, staked BNB has continued to increase, introducing scarcity for the asset. BNB’s supply has been capped at 200M, with burns observed at planned intervals. This reality propelled several crypto projects to the Binance ecosystem, causing BNB’s price to surge.
Similarly, BONE is set to serve as the gas token of Shibarium, as earlier announced. Validators and delegators would need to stake BONE to enhance activities on the L2 network. In turn, demand for the Shiba Inu ecosystem token will surge.
Recall that BONE’s total supply is capped at 250M to further introduce scarcity for the token. This aligns with the tokenomics of BNB.
Citing the factors, Shiba Inu proponents expect BONE’s value to appreciate post-Shibarium launch. According to Shytoshi Kusama, the L2 solution will hit the mainnet during the Blockchain Futurist Conference.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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