Shiba Inu’s BONE stages an impressive price rally amid positive updates regarding Shibarium and previously stuck BONE tokens.
The Shibarium gas token —BONE— joined the list of top-performing assets in the cryptocurrency market today. In particular, the Bone Shibaswap governance token posted a double-digit gain within the last 24 hours despite the persisting dull state of the crypto market.
At press time, data on the price-tracking platform Coinmarketcap shows that BONE’s price has increased by over 17% in the past day. Meanwhile, bitcoin (BTC) and ether (ETH) prices have posted no significant gains in the last 24 hours.
Reasons For BONE Rally
Notably, BONE’s impressive price performance is primarily attributed to the many positive developments in the Shiba Inu ecosystem. One such bullish outcome is the recent redesign of the Shibarium testnet explorer, Puppyscan. Another is the gradual release of previously stuck BONE tokens to users.
On Thursday, the prominent Shiba Inu marketing specialist Lucie shared an exciting update about BONE on Shibarium. The community influencer confirmed that some previously stuck BONE tokens have landed on users’ balances. Other users attested to the fact, too.
My bridged $BONE arrived.
You can check yours on https://t.co/KkZfTdO34a
Be patient- It’s indexing. pic.twitter.com/9mjdtK9xbc
— ????? | Summer of Shibarium (@LucieSHIB) August 24, 2023
An additional factor fueling the high interest in BONE is the enhancement and optimization of the Shibarium mainnet ahead of its public relaunch. Announced on Wednesday, Shytoshi Kudama also revealed new features added to the layer-2 scaling solution to enhance user experience.
Shibarium has resumed block production following a few days of hiatus, as reported previously.
Notably, the Shiba Inu ecosystem token BONE is exchanging hands at $1.39, up roughly 17% in the past 24 hours. With over 7.5M BONE staked, proponents remain optimistic for a massive rally in the coming months.
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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