The Bone ShibaSwap token has shown signs of recovery over the last day following a significant price drop over the weekend.
Shibarium trifecta tokens surge ahead of mainnet launch
BONE has gained around 4% from Monday, when it lost a little more than 7%, partially recouping some of those losses over the weekend.
The governance token for Shibarium’s DEX, ShibaSwap, is called BONE. On the Shibarium Layer 2 blockchain of SHIB, it is also intended to be used as a gas token to pay transfer costs.
Doge Killer (LEASH), another token from the Shibarium trifecta, has also seen an increase in price, hitting $534 per unit at this time. According to CoinMarketCap, this is the result of a moderate 4%+ growth since yesterday morning.
Shibarium’s much awaited mainnet launch is anticipated to take place in Toronto from August 15–16 during the Blockchain Futurist Conference.
SHIB sell-off pushes price down deep
The main token of the SHIB ecosystem, Shiba Inu (SHIB), had a significant 20% increase at the beginning of the weekend, losing one zero from its price and hitting the $0.00001023 level. However, it did not last long as traders and whales started to offload their SHIB bags to cash in on the soaring profits.
The famous meme cryptocurrency fell 11.82% as a result of the sell-off and is currently trading at $0.00000901.
Shytoshi Kusama, the pseudonymous principal developer of Shiba Inu, recently tweeted that the SHIB team will mint the remainder of the BONE supply and renounce the Bone ShibaSwap contract to halt the generation of any further Shibarium tokens.
