Shiba Inu's BONE Sheds 20% Amidst Shibarium Launch
Earlier today, Shiba Inu successfully introduced its layer-2 scaling solution, Shibarium. Anticipated to have a transformative impact, this initiative held the promise of elevating the value of both Shiba Inu and its offspring, BONE. Notably, BONE serves as the governance token within the Shibarium ecosystem. Therefore, the bets on BONE were high. Contrary to expectations, there was an unexpected absence of upward movement in the value of these assets. Currently, Shiba Inu’s BONE is being traded at $1.29, displaying a significant decrease from its peak value of $1.7346. Over the past 24 hours, the asset experienced a notable decline of 20% in its daily performance. Despite a considerable 62% increase in trading volume, the market capitalization of BONE witnessed a 20% decline, settling at $297 million. Source – BONE/USDT Chart on TradingView The short-term price chart of BONE clearly indicated a shift in control toward sellers within the BONE market. The Relative Strengt...