According to information provided by Etherscan, 8.8 billion Shiba Inu tokens have been exchanged between various wallets in the last hour; some of these wallets are connected to important exchanges like Binance and Gate.io.
As it turned out, the SHIB price increased by 2% today and is currently trading at $0.00000740 on the Binance platform.
Close to 9 billion SHIB moved
Five transactions totaling a minimum of 1.2 billion SHIB and a maximum of 2.4 billion have been made.
2,499,592,500 SHIB from an untraceable cryptocurrency wallet were sold in part on the popular cryptocurrency exchange Gate.io. A transaction carrying 1,904,542,431 SHIB from the Binance 16 address to an unidentified wallet was seen at the same time.
According to Etherscan, the remaining billions of SHIB were exchanged between addresses belonging to unidentified whales.
Top SHIB team member explains why BONE will surge
Today, Bone ShibaSwap (BONE), the token that serves as gas on Shibarium, was discussed on Twitter by Lucie, the official content marketing professional of the Shiba Inu ecosystem.
As soon as the Shibarium mainnet is launched, Lucie listed the reasons she anticipates a large increase in the price of BONE.
The first justification she gave was a rise in community demand for BONE. Lucie predicts a significant increase in BONE adoption once Shibarium is made available, which is expected to happen later this year. More BONE tokens will also be required to act as gas on this Layer-2 network when more transactions are made on Shibarium. According to Lucie, the price of BONE will rise as demand increases.
Shiba Inu’s Lucie cites “essentiality and utility” as the secondary justification. This one directly relates to the first one because, as the gas token on Shibarium, BONE will see a sharp increase in intrinsic value and utility. More and more users and dapps will find it vital to employ BONE as Shibarium’s acceptance spreads.
Aside from that, owing to the restricted number of tokens available, BONE will become rare. BONE’s price may rise significantly due to its limited supply and growing usefulness. Network impact and investor confidence were two more crucial factors that Lucie cited as contributing to the potential BONE price increase.
Additionally, BONE keeps obtaining fresh listings on cryptocurrency exchanges. The Shibarium gas charge token was reportedly listed by fiat on/off ramp Guardarian earlier today, allowing for the buying and selling of cryptocurrencies for fiat money.
