{"id":520386,"date":"2023-02-21T10:10:53","date_gmt":"2023-02-21T10:10:53","guid":{"rendered":"https:\/\/wncen.com\/?p=520386"},"modified":"2024-06-11T07:47:44","modified_gmt":"2024-06-11T07:47:44","slug":"shiba-inu-based-bone-up-34-in-one-week","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-based-bone-up-34-in-one-week\/","title":{"rendered":"Shiba Inu Based BONE Up 34% In One Week, Too Late To Buy?"},"content":{"rendered":"

The launch of the beta version of Shibarium, the layer-2 network if Shiba Inu,\u00a0is getting closer and closer. As NewsBTC reported<\/a>, lead developer Shytoshi Kusama published a blog post yesterday in which he informed about the upcoming steps before the launch.<\/p>\n

What is clear at the moment is that Shibarium will be released before May 2023, although there are rumors<\/a> that the launch could be completed much sooner, possibly within the next week. And the Shiba Inu-based Bone ShibaSwap (BONE) token is significantly outperforming SHIB over the past week in anticipation of that.<\/p>\n

While BONE is up about 10% in the last 24 hours and 34% over the last seven days, SHIB is down 2% on the day, up roughly 8% over the last week.<\/p>\n

With its recent strong performance, BONE has even entered the top 100 cryptocurrencies by market cap. With a total market capitalization of $426.8 million, BONE is currently ranking 98th. But what’s the reason?<\/p>\n

Why Does BONE Outperform Shiba Inu?<\/h2>\n

First and foremost, the already suspected launch of Shibarium seems to be a key driver of BONE’s price rally. BONE will play a pivotal role in Shibarium and for the Shiba Inu ecosystem in general.<\/p>\n

The BONE token will have a number of use cases once the layer-2 blockchain is deployed. The Twitter account “BoneShibaSwap,” popular in the Shiba Inu community, wrote<\/a>:<\/p>\n

The most important topics for everyone!<\/strong>
\n1. It has been confirmed that Shibarium Beta will be released next week<\/strong>
\n2. Over a million Shiba holders will buy Bone for very low fees and burn Shib with every transaction.<\/strong>
\n3. You will need Bone for everything in the SHIB ecosystem<\/strong><\/p><\/blockquote>\n

The backdrop is that BONE will be the only governance token of the layer-2 technology. On February 16, the Unification team released the first BONE proposal, which also started BONE’s price rally.<\/p>\n

Related Reading: Shiba Inu Jumps 4% As Lead Dev Answers \u2018When Shibarium\u2019<\/a><\/div>\n

Developer Ringoshi T\u014ditsu stated<\/a> via Twitter that they plan to create a FUND liquid staking derivative token on Ethereum that will allow anyone to stake ETH-based funds and receive sFUND. This would be similar to Frax Finance, which creates liquidity on Curve as well as staking incentives.<\/p>\n

Regarding Bone ShibaSwap (BONE), developer Ringoshi Toitsu explained on Twitter that BONE could be staked on Shibarium while receiving back a wrapped version of it called tBONE. Ultimately, this means that tBONE could be paired with BONE to earn a higher annual percentage rate (APR) while helping to maintain Shibarium’s liquidity.<\/p>\n

Related Reading: Shiba Inu Whale Scoops 50 Billion SHIB In Single Day After Earlier Ditching Bigger Amount<\/a><\/div>\n

With the addition of this strong use case, BONE has seemingly gained traction from a fundamental perspective. BONE’s limited supply meets a strong use case as well as growing hype around Shibarium.<\/p>\n

BONE Price Today<\/h2>\n

At press time, BONE was trading at $1.86, failing on its first attempt at the crucial resistance of $1.96. If the launch of Shibarium is indeed confirmed next week, BONE may break through this level and target the all-time high of $2.38.<\/p>\n

\"Shiba
BONE price below key resistance | Source: SHIBUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from CoinGecko, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The launch of the beta version of Shibarium, the layer-2 network if Shiba Inu,\u00a0is getting closer and closer. As NewsBTC reported, lead developer Shytoshi Kusama published a blog post yesterday in which he informed about the upcoming steps before the launch. What is clear at the moment is that Shibarium will be released before May 2023, although there are rumors that the launch could be completed much sooner, possibly within the next week. And the Shiba Inu-based Bone ShibaSwap (BONE) token is significantly outperforming SHIB over the past week in anticipation of that. While BONE is up about 10% in the last 24 hours and 34% over the last seven days, SHIB is down 2% on the day, up roughly 8% over the last week. With its recent strong performance, BONE has even entered the top 100 cryptocurrencies by market cap. With a total market capitalization of $426.8 million, BONE is currently ranking 98th. But what’s the reason? Why Does BONE Outperform Shiba Inu? First and foremost, the already suspected launch of Shibarium seems to be a key driver of BONE’s price rally. BONE will play a pivotal role in Shibarium and for the Shiba Inu ecosystem in general. The BONE token will have a number of use cases once the layer-2 blockchain is deployed. The Twitter account “BoneShibaSwap,” popular in the Shiba Inu community, wrote: The most important topics for everyone! 1. It has been confirmed that Shibarium Beta will be released next week 2. Over a million Shiba holders will buy Bone for very low fees and burn Shib with every transaction. 3. You will need Bone for everything in the SHIB ecosystem The backdrop is that BONE will be the only governance token of the layer-2 technology. On February 16, the Unification team released the first BONE proposal, which also started BONE’s price rally. Related Reading: Shiba Inu Jumps 4% As Lead Dev Answers \u2018When Shibarium\u2019 Developer Ringoshi T\u014ditsu stated via Twitter that they plan to create a FUND liquid staking derivative token on Ethereum that will allow anyone to stake ETH-based funds and receive sFUND. This would be similar to Frax Finance, which creates liquidity on Curve as well as staking incentives. Regarding Bone ShibaSwap (BONE), developer Ringoshi Toitsu explained on Twitter that BONE could be staked on Shibarium while receiving back a wrapped version of it called tBONE. Ultimately, this means that tBONE could be paired with BONE to earn a higher annual percentage rate (APR) while helping to maintain Shibarium’s liquidity. Related Reading: Shiba Inu Whale Scoops 50 Billion SHIB In Single Day After Earlier Ditching Bigger Amount With the addition of this strong use case, BONE has seemingly gained traction from a fundamental perspective. BONE’s limited supply meets a strong use case as well as growing hype around Shibarium. BONE Price Today At press time, BONE was trading at $1.86, failing on its first attempt at the crucial resistance of $1.96. If the launch of Shibarium is indeed confirmed next week, BONE may break through this level and target the all-time high of $2.38. Featured image from CoinGecko, Chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":520394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[86713,83668,83667,87680,83853],"class_list":["post-520386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-bone","tag-shib","tag-shiba-inu","tag-shibarium","tag-shibaswap"],"acf":[],"yoast_head":"\nShiba Inu Based BONE Up 34% In One Week, Too Late To Buy?<\/title>\n<meta name=\"description\" content=\"The launch of the beta version of Shibarium, the layer-2 network if Shiba Inu, is getting closer and closer while BONE is on a tear.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Based BONE Up 34% In One Week, Too Late To Buy?","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-based-bone-up-34-in-one-week\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-based-bone-up-34-in-one-week\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/content_10.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/content_10.jpg?fit=800%2C419"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bone","shib","shiba inu","shibarium","shibaswap"],"dateCreated":"2023-02-21T10:10:53Z","datePublished":"2023-02-21T10:10:53Z","dateModified":"2024-06-11T07:47:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Based BONE Up 34% In One Week, Too Late To Buy?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-based-bone-up-34-in-one-week\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-based-bone-up-34-in-one-week\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/content_10.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/content_10.jpg?fit=800%2C419\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bone\",\"shib\",\"shiba inu\",\"shibarium\",\"shibaswap\"],\"dateCreated\":\"2023-02-21T10:10:53Z\",\"datePublished\":\"2023-02-21T10:10:53Z\",\"dateModified\":\"2024-06-11T07:47:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/content_10.jpg?fit=800%2C419","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=520386"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/520394"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=520386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=520386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=520386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}