While the crypto market continues to suffer from the aftershocks of the FTX thunderstorm, some lower-ranked altcoins manage to bounce back faster. Bone ShibaSwap (BONE) is one of the most mentioned cryptocurrencies on Twitter. Naturally, the upcoming Shibarium upgrade and recognition from popular crypto exchanges boosted Shiba Inu’s (SHIB) BONE market price by 22.2% in the last seven days. At press time, the 166th-ranked altcoin trades at $0.770029, according to CoinGecko.
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#Bone #BoneArmy #Shib #ShibArmy Sooner or later the $bone will become the most popular and top cryptocurrency in the world and #Shiba Holders are our dear friends. We are all from the same platform. Unity and helping each other is the key to success for all of us . . .— BoneShibaSwap (@BoneShiba) November 30, 2022
BONE is Rising in High Hopes of Shibarium
While constantly trending already, members of the SHIB Army believe that BONE will play a key role in Shibarium. The Layer-2 solution for SHIB is just around the corner, as Shytoshi Kusama reassured he’s “focused on Shibarium.” Besides, a social hub for Shibarium has been created on Twitter recently.
The upgrade will transform SHIB from an ERC-20 token on Ethereum (ETH) to a self-sufficient ecosystem. Thus, the governance token BONE is going to be used to cover gas fees for transactions. In addition, BONE is likely to be utilized in SHIB: The Metaverse, as well as the blockchain version of the Shiba Eternity card game.
Ultimately, the SHIB Army is patiently waiting for the Layer-2 solution to go live. With many delays, the community is divided into two camps – the ones who claim that the developers should be a lot more specific when it comes to timelines and the ones who suggest that the devs should take as much time as they need.
#Shibarium Layer 2 goals to provide faster transactions at lower costs for users! $Bone is the gas token of #Shibarium . If you’re looking for a gem Buy #BONE shibaswap! Future gas for #Shibarium L2 which will bring lots of new projects and volume!! $BONE #BONE #BONE100DOLLAR pic.twitter.com/avUPmG8gtK— BONEARMY 100x (@Shibsweety) November 30, 2022
Popular Crypto Exchanges are Digging BONE
The popularity of SHIB managed to give a needed boost to BONE, as it’s getting listed on popular crypto exchanges. For instance, the gas fee token has just been listed by UpHold, the New York-based retail crypto exchange.
THIS IS HUGE! $BONE @UpholdInc #Shibarmy https://t.co/rkqpBLVsERCOIN— Shibburn (@shibburn) November 30, 2022
On the Flipside
- BONE is still below the $1 key support line.
- In yearly terms, the gas fee token is down by 61.6%.
- BONE is close to fully retracing its ATH set at $15.50.
Why You Should Care
Both the retail investors and popular crypto exchanges have a lot of hope in the enduringly popular SHIB. That’s evident in the proof of reserve shown by top crypto platforms like Binance and Crypto.com. To illustrate, Crypto.com holds 20% of its cryptocurrency reserves in SHIB.
Learn more about Shiba Inu’s (SHIB) transition to a self-sufficient ecosystem:
Shiba Inu (SHIB) Reserve: Which Popular Crypto Exchange Holds the Most?
Shiba Inu (SHIB) Burn Portal Suggests What Could Increase SHIB Burn Rate