- With the BONE listed on many crypto exchanges, the Shiba Inu ecosystem predicts that the listings will push the meme cryptocurrency’s price to $2 in the coming weeks.
- The network is gearing up for its long-awaited Shibarium update, which aims to usher in SHIB’s transition from an ERC-20 token to a self-sufficient network.
Shiba Inu has seen a significant surge following its listing on multiple crypto exchanges, with the token now available for trading on most platforms. Accordingly, the asset has become the leading meme altcoin to be listed on most crypto trading platforms.
BONE enters new platform
In a recent tweet, a New York-based digital asset trading platform, Uphold, announced that BONE is now available for trading on their marketplace. As a result, retailers could now buy and sell the canine cryptocurrency. BONE is the ShibaSwap community’s native token, allowing community members to vote on project proposals.
Additionally, a day before Uphold announced the listing of the meme token, another crypto exchange, SunCrypto, an India-based platform, announced that BONE was available for trading. Thus, the value of this Shiba Inu asset rose 12 percent from $0.7175 on December 3rd to $0.8034 on December 4th.
However, the recent listings are part of the growing number of crypto exchanges that have already listed the dog’s digital asset. In September, Hong Kong-based LBANK also listed Shiba Inu’s governance token. Custody-free crypto exchange StealthEX also integrated support for the asset at the same time.
BlueBit.io also joined the list of digital asset service providers by adding the token to its platform. The Shiba Inu network launched its governance token last year. Since then, the asset’s price has skyrocketed, hitting its all-time high of $3.02 on Oct. 8. BONE is the new token in the Shiba Inu decentralized (DEX) ecosystem.
A Shib Army member can vote on any pending community proposal as a BONE holder. The more BONE assets a community member owns, the more their opinions count in any upcoming Shiba Inu ecosystem plan.
Ultimately, the holders of the highest tokens can influence any future initiative in the community. However, BONE’s accumulation only started to rise after Shiba Inu’s lead developer announced that the asset would serve as a gas fee for the forthcoming Layer 2 solution for the network.
Shiba Inu ecosystem anticipates Shibarium upgrade
The network is gearing up for the long-awaited Shibarium update, which aims to usher in SHIB’s transition from an ERC-20 token on the Ethereum protocol to a self-sufficient network. The upgrade will end Shiba Inu’s dependence on the Ethereum network while providing greater efficiency and low transaction fees.
As the Shibarium update rollout approaches, investors are scrambling to add BONE to their growing portfolios in anticipation of a price spike when the upgrade finally rolls out. BONE is currently the most popular asset on various social media sites and the most mentioned on microblogging platform Twitter.
Over the past week, BONE is up 22 percent in value and ranks 166th among altcoins in terms of trading volume, CoinGecko data shows. At the time of writing, BONE is trading at $0.8395, up 3.61 percent over the past 24 hours, according to the same data. Given the positive sentiment surrounding the asset, BONE is likely to continue higher to $2 as investors attempt to accumulate more in the days and weeks ahead.