SHIB: Users can now track the price of Bone ShibaSwap (BONE), the management token of the Shiba Inu (SHIB) ecosystem, on Binance. This led to speculation that Binance might later list BONE. Here are the details…
SHIB fans can track BONE price on Binance
Binance, the world’s largest Bitcoin and altcoin exchange by trading volume, recently enabled price tracking for Bone ShibaSwap, the management token of the Shiba Inu ecosystem. Following this, Shiba Inu supporters began awaiting a potential listing of Bone ShibaSwap on the world’s leading crypto exchange in terms of trading volume.
Binance has shown its love for the most popular dog-themed token many times before. This month, Binance Learn and Earn announced its goal to reward new users with a 100 percent annual rate of return and 45,000 SHIB tokens. Mega launched a promotion. BONE started to get a lot of attention as the news about the potential launch of Shibarium was discussed on all social media platforms.
At the beginning of June, Seychelles-based BTCEX Exchange officially announced the listing of Bone ShibaSwap (BONE). BONE will play an important role in Shibarium. It is stated that the token will provide the necessary functionality to process/execute smart contracts and transactions. It will reportedly be used as a native “Gas Token” in the SHIB Layer 2 solution. BONE is currently acting as ShibaSwap’s management token. It allows the SHIB Army to vote on upcoming proposals. The more BONEs a user holds, the more weight their vote will carry in these future recommendations.
SHIB rose sharply last week
Meanwhile, SHIB saw a significant increase in value. Shiba Inu’s native SHIB token has soared by nearly half its value last week as crypto market investors showed irrational enthusiasm during a brief relief rally among major coins. SHIB posted a max gain of nearly 48 percent for investors, climbing from $0.000074 last weekend to $0.000011 on Wednesday morning, according to data from CoinGecko.
Much of the jump came amid a relief rally in Bitcoin and other major cryptocurrencies on Tuesday. At the time of writing, the token has dropped to $0.000001025 as traders are taking profits amid a slowdown among the majors. The price charts show support at $0.0000082 and resistance at $0.0000011 in case there are more bounces. However, SHIB fell 89 percent from its all-time high reached in October last year. The token currently had a market cap of over $6 billion.
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