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Shiba Inu’s (SHIB) Bone ShibaSwap (BONE) Racked Up by Ethereum (ETH) Whales By DailyCoin

Shiba Inu’s (SHIB) Bone ShibaSwap (BONE) Racked Up by Ethereum (ETH) Whales

The SHIB Ecosystem’s gas token has attracted the interest of the largest ETH-bearing whales. One whale spent a staggering 125.075 ETH on BONE in October 2022. Ultimately, that equals over $200,000 spent on SHIB’s governance token in a single transaction.

(ETH) Whales Expect Shibarium

BONE’s bullish price movements could be due to the anticipation that Shibarium will soon be launched. Shibarium is the Layer-2 solution for SHIB’s Ecosystem. As the SHIB Army expects a significant uptrend with Shibarium’s launch, it only makes sense that the top 100 ETH whales are getting in early.

BONE is also trending in DexTools, which happens to be one of the most used trading apps in DeFi. The bullish sentiment confirms there’s a demand for SHIB’s gas fee token beyond the ecosystem. BONE will likely offer Shibarium more utility than SHIB’s gas fee token.

BONE grows in market recovery

According to CoinGecko, BONE was priced at $1.13 at the time of publication. This is a 10.6% rise in 24 hours. BONE increased by 25.5% in weekly terms. The two-week perspective is even better with 35.8% increases.

The rebound rally is being led by memecoins DOGE and SHIB in current crypto market conditions. Having perhaps the widest communities in crypto, both the DOGE and SHIB armies have high hopes that Elon ‘The Dogefather’ Musk will close his $44 billion Twitter acquisition deal this Friday.

The Flipside

  • Around 30% of the SHIB Army’s community is dissatisfied with the delay in Shibarium.
  • The timeline is still unclear, despite rumored launch dates.
  • BONE is still below its ATH of $15.50 a Year ago.

Why you should care

To stay ahead of the crypto market price movements, it is important to track the largest ETH whales.

These articles contain the most recent news about memecoins

(DOGE), 32% Launched by Elon Musk’s Entry to Twitter Headquarters

Inu’s (SHIB) Price on Fire as SHIB Burn Rate Shoots Up 1934%

See original on DailyCoin

News Source and Credit

Stocksak Editorial

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