• ICRYPEX lists BONE, triggering positive sentiment and a price increase. 

• Shibarium’s progress towards relaunch and new features by Kusama contribute to its growing popularity.

Taking an unexpected twist, the BONE token linked to Shiba Inu has emerged as a standout performer within the current cryptocurrency market. Despite the overall subdued performance of the market, the Bone Shibaswap (BONE) token has exhibited a notable surge of 11% over the last 24 hours.

What’s Driving the Rise of Shiba Inu-Based BONE?

The impressive upward movement of BONE’s price can be attributed to favorable developments within the Shiba Inu ecosystem. A significant boost originated from the recent revamp of the Shibarium testnet explorer, known as Puppyscan. Additionally, gradually releasing previously locked BONE tokens to users has played a pivotal role in this upward trajectory.

The Shibarium layer-2 network encountered a notable technical issue involving its bridge contract. This snag resulted in approximately $1.7 million worth of Ethereum becoming trapped between the Ethereum network and the layer-2 solution following the launch of Shibarium on August 16th.

Lucie, a well-known influencer in the Shiba Inu community, recently provided an update regarding the status of BONE on Shibarium. She verified that a considerable number of users have now successfully received their previously trapped BONE tokens. 

Furthermore, the Bone ShibaSwap (BONE) token has achieved a fresh listing on an exchange. Lucie, a member of the Shiba Inu team, highlights this recent advancement in a recent post on the X platform.

ICRYPEX, the Turkish cryptocurrency platform, has declared the inclusion of BONE in an announcement on the X platform. As part of significant listings, BONE was incorporated alongside nine other cryptocurrencies. BONE is currently available for trading on the ICRYPEX platform.

Upcoming Actions for Shiba Inu

Kusama hinted at Shiba Inu’s forthcoming actions in a recent blog post. The Shiba Inu ecosystem is poised for additional progress. More validators are set to become operational, offering increased choices to stake BONE and gain a portion of rewards. Adding to BONE’s growing popularity is the ongoing process of enhancing and optimizing the Shibarium mainnet in anticipation of its forthcoming public relaunch. 

Just this Wednesday, Shytoshi Kusama introduced a range of fresh features to elevate the user experience on the layer-2 scaling solution. Notably, Shibarium remains in private mode and hasn’t yet been relaunched for the general public. 

As testing nears completion, Shibarium readies itself for public utilization once more. The implementation of the “Shib paper” is also on the horizon, paving the way for a governance and management system alongside an achieved framework this year. The Shiba Inu lead developer emphasized that this would validate the reality of the SHIB perpetual decentralized digital nation-state, poised to revolutionize the world.

Bone ShibaSwap Bucks Market Trends

Bone ShibaSwap notably deviated from the broader cryptocurrency market trends, exhibiting a significant 12% surge. In contrast, prominent tokens like Bitcoin, Ethereum, and Dogecoin encountered declines exceeding 2%.

Based on data, bone ShibaSwap, priced at $1.39, emerged as the most substantial gainer. The trading volume for BONE witnessed a remarkable uptick, soaring by more than 90% within the last 24 hours to reach $23 million. Shibburn, a tracker for Shiba Inu burns, reported a burn rate of 54% on Thursday, with over $84 million worth of SHIB tokens burned in the past day. This burning mechanism contributes to the scarcity of the SHIB token, ultimately influencing its value.