Shiba Inu Token Surges 8%, But It’s Not SHIB

The Shiba Inu ecosystem token has seen an increase of 8% since the opening of the trading session on Monday. The hero of the occasion is BONE, a ShibaSwap token that has recently spread to cryptocurrency exchanges. As previously predicted, the massive listing of BONE on medium and large platforms will lead to an influx of liquidity into the token.

Despite a lack of growth stories, BONE, like SHIB, has managed to capture the attention of large Ethereum holders. Thus, according to new data from WhalesStatscryptocurrency has become one of the most widely used smart contracts among the top 500 ETH whales.

That said, BONE does not have wide frontage among the top 100 of this company of investors, unlike SHIB, which represents 5% of its portfolio. At the same time, we can expect to see increased exposure to BONE in Ethereum whale wallets with the release of Shibarium, where the token will be used as a gas fee.

BONE Price Action

BONE rallied over the past two days after the price managed to hold strong support at $0.83. Additionally, BONE’s trading volume has increased by 21% in the past 24 hours.

The cryptocurrency hit its all-time high just a month and a half ago in late August. At that time, BONE was trading at $2.4. Now BONE will have to increase by 150% to reach these values ​​again.