- Bone ShibaSwap (BONE) and Doge Killer (LEASH) record price hikes outperforming Shiba Inu (SHIB).
- BONE is designated as the primary gas and governance token of Shibarium.
Shibarium mainnet launch in August is triggering price gains in almost all Shiba Inu ecosystem tokens. Impressively, Bone ShibaSwap (BONE) registered a jaw-dropping rally, noting a 110% recovery spike.
Almost all cryptocurrencies observed a steep decline during the SEC crypto crackdown since the beginning of June. Likewise, BONE dropped to its 6-month-low at $0.6650 on June 10. But the ongoing Shibarium hype among the Shiba community favors a great recovery for Bone ShibaSwap.
During the Asian morning hours, this token attained its 112-day-high of $1.399. Also, in the last 24 hours, BONE surged more than 20% in price and 41.5% in daily trading volume.
Bone ShibaSwap (BONE) Price Chart (Source: TradingView)
The daily price chart clearly highlighted the rise of BONE’s RSI to the positive overbought territory. The increasing buying pressure relatively supports the ongoing price hike. Currently, the count of wallets that hold BONE sum up to 82,848.
On the other hand, the Chaikin Money Flow (CMF) rose to +0.27 and highlighted the token’s current bullish outlook and strong capital inflows.
Shiba Inu Tokens Warming Up Before Shibarium
Among the three prime native tokens of the Shiba Inu ecosystem, BONE did stage an impressive rally since June 10. How did the other two cryptocurrencies perform?
In the last 24 hours, the ecosystem’s core crypto Shiba Inu (SHIB) registered an uptick of 1.29% to trade at $0.0000073. But SHIB’s daily trading volume declined by over 38%. Meanwhile, Doge Killer (LEASH) recorded a 24-hour gain of more than 8% and at the time of writing, it traded at $330. Unlike SHIB, LEASH displayed a surge of 15.2% in daily volume.
The Thursday blog post released by SHIB developer Shytoshi Kusama clearly laid out the utilities of these tokens. Firstly, SHIB will continue to serve as the central governance token of the entire Shiba Inu ecosystem. Secondly, BONE will be the primary governance and gas token of Shibarium. Thirdly, LEASH will be the token that upholds community protection. Additionally, another token called TREAT will be responsible for governing community projects.
Thus, the Shiba community bets on the bullish impact of the Shibarium mainnet launch in August. There is high anticipation of this memecoin’s ecosystem expanding with upgraded utilities.
Furthermore, the following crypto events happening in Canada in August — Blockchain Futurist Conference, ETHToronto, and ETHWomen hackathons — will be the epicenter of groundbreaking announcements on Shibarium.
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