BONE Price Witnesses 15% Surge Amid Shibarium Mainnet Relaunch

Lucie, a Shiba Inu (SHIB) official, said that the Shibarium protocol -the Layer 2 protocol- had already started producing blocks and was operating according to plan. She added that all that was needed to be done at the time was to launch it.

Timeline of Bone-shibaswap, Shiba-inu

Shiba Inu (SHIB) has recently experienced an unexpected drop in both price and trading volume. While this may seem like a negative development at first glance, a closer analysis reveals that this drop might actually be a saving grace for the digital asset.

A significant shift is rippling through the Shiba Inu token's ecosystem, as a stunning influx of over a trillion tokens swells the wallets of major holders. On-chain metrics, provided by IntoTheBlock, reveal an intriguing trend that could spell turning tides for SHIB, the popular cryptocurrency.

For the past 15 months, the BONE ShibaSwap coin has adhered to a sideways trend, encapsulated within the confines of a symmetrical triangle pattern. A key characteristic of this pattern is its ability to restrain price fluctuations within two converging trend lines.

SHIB price is stuck in the red despite the reintroduction of the ecosystem layer 2 solutions protocol, Shibarium. Developers led by Shytoshi Kusama pulled the mainnet offline and later to private mode after it encountered scalability issues.

An unknown Shiba Inu (SHIB) whale moved just over 708 billion SHIB from a Gemini wallet to an unknown wallet on Thursday. The equivalent value of the transaction is just under $6 million.

The erratic nature of the digital currency ecosystem is impacting negatively the Shiba Inu (SHIB) ecosystem as a price drop has rocked most of the meme coin's associated tokens. One thing has, however, sustained its bullish momentum, and that is the SHIB token burn rate, which has grown by approximately 80% in the past 24 hours, per data from Shibburn.com.

In a surprising turn of events, the Shiba Inu-based BONE token has emerged as one of the top-performing assets in today's crypto market. Despite the broader market's subdued performance, the Bone Shibaswap (BONE) token has registered an 11% surge in the past 24 hours.

Bone ShibaSwap (CRYPTO: BONE) managed to defy the overall cryptocurrency market trends by recording a significant 12% increase, while popular tokens like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) experienced a decline of over 2%. What Happened: Trading at $1.39, Bone ShibaSwap on Thursday emerged as the top gainer among top 100 cryptocurrencies by market capitalization, according to CoinMarketCap.

Shibarium's developers are taking serious steps to guide the ship back on track following a bumpy debut. In order to realize its big aim of becoming a “decentralized digital nation state,” Shibarium's principal developer, Shytoshi Kusama, has revealed intentions to start implementing the “ShibPaper.

DEXTools, a platform known for its analytics services in the decentralized finance (DeFi) sector, has announced its integration of Shibarium, a new blockchain associated with the Shiba Inu cryptocurrency.