On Friday, October 14th, Shiba Inu’s (SHIB) gas fee token, Bone ShibaSwap (BONE), experienced a significant daily boost. The rising demand for the governance token is self-evident, and crypto Twitter has been pushing for Bone ShibaSwap (BONE) to be listed on major crypto exchanges like Coinbase & Binance. According to the estimates, more than a million people will look to acquire Bone ShibaSwap (BONE) after the grand launch of Shibarium.
It's on SUPER SALE ATM!!! #BONE $BONE https://t.co/R3A3yz3RD8
— #Woofstar ™️ (@minishibini) October 13, 2022
Bone ShibaSwap’s (BONE) Role in the Ecosystem
With most of the SHIB Army waiting for the Shibarium Layer-2 solution, crypto influencer “Lady Crypto” took the time to explain why Bone ShibaSwap (BONE) is a crucial piece of the puzzle for Shiba Inu.
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Firstly, Bone ShibaSwap (BONE) will be used as the governance token for voting on proposals in SHIB: The Metaverse, as well as the blockchain version of the Shiba Eternity. The mobile version of Shiba Inu’s (SHIB) official collectible card game dropped on October 6th, 2022, and has served as a great platform for recruiting new members around the world.
However, the mobile version of Shiba Eternity does not include Shiboshi NFTs, and just 5% of the revenue generated from the game is being put towards burning Shiba Inu (SHIB). Be that as it may, the tables are expected to turn once the Web 3.0 version of Shiba Eternity drops.
🤔 Wen #Shibarium drops, all Trifecta tokens will support $SHIB's ecosystem with #ShibaSwap, #ShibTheMV, #Welly, and the #Blockchain version of #ShibaEternity, and guess what?$BONE will be used to cover gas ⛽️ fees for every transaction that takes place on #Shibarium! 🔥🔥🔥
— 𝐋𝖆𝖉𝖞 🔥 𝐂𝖗𝖞𝖕𝖙𝖔 (@_Lady_Crypto_) October 12, 2022
Crypto Exchanges Chew over Shiba Inu’s BONE
Since Bone ShibaSwap (BONE) is projected to be used in every transaction that takes place on Shibarium, more and more crypto exchanges are expected to list the governance token as time passes. Even now, crypto enthusiasts on Twitter are pushing for Binance, KuCoin, and Coinbase to list Bone ShibaSwap (BONE). $BONE has already been listed, along with the rest of the tokens in the Shiba Inu ecosystem, by MEXC Global, CoinEx, Switchere, and BlueBit.io.
At press time, Bone ShibaSwap (BONE) is priced at $0.904825, according to CoinGecko. Despite its recent uptrend, the #152 ranked crypto is still 51.29% in the red in yearly terms. According to statistics provided by Data Metrics UG, a $500 investment into Bone ShibaSwap (BONE) made exactly a year ago would have resulted in a $267.09 shortfall for the gas fee token of Shiba Inu’s (SHIB) ecosystem in the present day.
🤷♂️ What if 🤷♂️ How much money would you have today, if you had invested $500.00 in #Bone-shibaswap $BONE 1 years ago? Your investment today would have a value of $243.55 (-51.29%) 💰💰 | 🪙 => 267.09 #BONE | 👁️ More: https://t.co/UekXbILbxg pic.twitter.com/l3RkfTuRQK
— Data Metrics UG (@DataMetrics_UG) October 14, 2022
On the Flipside
- The 24-hour sprint for $BONE still leaves the token at a 18.5% deficit for the last 7 days.
- Some crypto enthusiasts suspect that whales are pulling the rug out from under ShibaSwap.
Why You Should Care
In addition to its increased social mentions, Bone ShibaSwap’s (BONE) bull run could also have been catalyzed by increased interest from Ethereum (ETH) whales. If Shibarium succeeds in having an impact on the ecosystem, demand for Bone ShibaSwap (BONE) would like increase substantially.
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