BONE up 15% as Bulls Focus on These Three Key Reasons

In what comes as a major surprise to the Shiba Inu (SHIB) ecosystem, Bone Shiba Swap (BONE) has picked a dramatic uptrend after soaring as high as 15.85% at the time of writing to $1.38. The current outlook of the BONE token has helped it pare off some of its losses of the past week with 8.9% growth.

Timeline of Bone-shibaswap

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the $26,000 level on Thursday. Ethereum (CRYPTO: ETH), also recorded gains, trading above the key $1,600 mark this morning.

The Shiba Inu team led by developer Shytoshi Kusama has reopened the Shibarium mainnet after days of reviewing, testing, and tweaking the chain. After Shiba Inu influencers took to X to announce that the Layer-2 blockchain is live again, Shibarium's gas token Bone ShibaSwap (BONE) skyrocketed more than 15% within hours.

The Shibarium gas token, which is also the Shiba Inu governance token, Bone ShibaSwap (BONE), has scored a new exchange listing. Shiba Inu team member Lucie calls attention to the latest development in a new X post.

After facing a bumpy start, Shiba Inu's much-anticipated Shibarium project is preparing for another shot at a successful launch. Despite serving as the backbone infrastructure of the blockchain, Shibarium encountered a setback on August 16, resulting in a sharp drop in SHIB's price.

Shiba Inu (CRYPTO: SHIB) ecosystem token Bone ShibaSwap (CRYPTO: BONE) is up 7% in the last 24 hours, even as top meme coins such as DOGE (CRYPTO: DOGE), Pepe Coin (CRYPTO: PEPE) and SHIB continue to tumble. What Happened: As of the time of writing, the trading price of BONE stood at $1.23.

The much-anticipated launch of Shibarium mainnet, a groundbreaking Ethereum layer-2 scaling solution, has been accompanied by unexpected turbulence, leading to significant price declines in the Shiba Inu ecosystem.

The price of the BONE token within the Shiba Inu ecosystem has experienced a remarkable surge of 8% during today's crypto market trading session. This resurgence comes as a much-needed reprieve following a tumultuous week marked by downward spirals.

Shiba Inu's Layer-2 Shibarium network has restarted, producing blocks again after almost a day without transactions. Lead developer Shytoshi Kusama confirmed earlier that high-level traffic on the blockchain caused some issues, but the funds are safe.

Shiba Inu's Layer-2 Shibarium network has stopped producing blocks again after it encounters issues and the Shiba Inu developers are looking for ways to recover crypto assets stuck on the bridge and other problems with blockchain. After the Shibarium encountered issues, whales and traders are continuously dumping SHIB, BONE and LEASH tokens.

Today, most cryptocurrencies in the crypto market are going down, but there are a couple of Altcoins that are going up. Bitcoin's price is staying around $29,150, and it's not going above $30,000 yet.