Bone ShibaSwap [BONE], a pivotal component of the Shiba Inu ecosystem, has experienced a remarkable surge in its market activity, propelling it to new heights. According to data provided by IntoTheBlock, there has been a staggering 900% increase in large transactions, each valued at a minimum of $100,000. This surge in on-chain activity has led to a daily volume of large transactions totaling an impressive 5.17 million BONE tokens, equivalent to a substantial $3.63 million. These activities have significantly contributed to a surge in the token’s overall value, increasing it by a staggering $3.27 million.
Simultaneously, the BONE token has seen a substantial uptick in transfer activity within the Shibarium network. Recent data from Shibariumscan indicates a remarkable 73.6% increase in new BONE token transfers within the past 24 hours, totaling an impressive 863 transfers.
While the exact cause behind BONE’s phenomenal surge remains unspecified, it is essential to highlight the growing popularity of the token among investors. Speculations are rife about its role within the Shibarium ecosystem. Notably, Shiba Inu’s marketing guru, Lucie Sasnikova, unveiled plans for the deployment of an innovative app called Shiba Hub on September 26.
This app aims to revolutionize how people connect, share, and create within the ecosystem, positioning users at the forefront of innovation. This announcement appears to have positively influenced the Shiba Inu token, especially given the anticipation within the meme coin community, particularly among SHIB holders, who are eagerly awaiting a significant uptick in the value of the meme coin.
Shiba Inu: BONE Minting Completion
BONE’s prominence within the Shiba Inu ecosystem is well-established. The Shiba Inu team recently took significant strides toward renouncing the contract for Bone ShibaSwap, which serves as the gas token of Shibarium. An anonymous developer revealed that the SHIB team successfully completed minting the remaining BONE supply, marking a crucial technical milestone.
This accomplishment signifies a profound shift, indicating the surrender of control and ownership of the coveted token. The project lead of Shiba Inu emphasized the pivotal role of minting the final BONE token and subsequent contract renunciation in solidifying the upcoming Layer 2 blockchain operations.