KEY POINTS

  • Shibarium will use BONE as its native gas token
  • Binance adds price tracking feature for BONE
  • BONE was trading up 5.89 percent at $0.4627

Fans of Shiba Inu, aka the Shib Army, are reportedly hyped after Binance's recent announcement on enabling its price tracking feature for BONE.

The Shiba Inu community believes the crypto exchange platform's latest move is an indication that it will soon list the governance token of ShibaSwap Bone, allowing investors to trade the same on Binance. Over the past 30 days, Binance shared that BONE saw a massive 24.67 percent increase in its price from $0.0818572 to $0.1144256.

BONE is the governance token of Shiba Inu and the soon-to-launch layer-2 solution Shibarium. It has attracted investors' attention when speculations about the imminent Shibarium rollout made rounds online.

ShibaDEX
ShibaDEX – the first cross-chain DEX for the Shiba Inu community powered by AtomicDEX, launched today, enhancing interoperability and security to Shiba’s community of over three million members. "ShibaDEX — First Cross-Chain DEX for the Shiba Inu Community" Post From Komodo Official Website

While the Shiba Inu development team has not yet provided a definitive release date for Shibarium, investors who wanted to see a massive gain on the notion that BONE's price would surge following Shibarium's launch, would not want to be left out and started buying the governance token. Previous statements from the development team revealed that BONE will have a crucial role in the layer 2 solutions.

It will reportedly be used as the native gas token of Shibarium, which will be used to process transactions and smart contracts. At present, BONE is ShibaSwap's governance token, which gives users the chance to vote on proposals and upcoming projects of the altcoin's native decentralized exchange (DEX).

Users with more BONE carry more weight on their votes, which is crucial to protect their interest in future initiatives and projects by the Shiba Inu development team. It is worth noting that while there is an anticipation within the community, Binance has not yet officially announced that it is indeed listing BONE on its platform. Investors should therefore temper their expectations.

BONE was trading up 5.89 percent at $0.4627 with a 24-hour volume of $1,408,777 while SHIB was trading down 1.04 percent at $0.00001009 with a 24-hour volume of $636,315,785 as of 3:09 a.m. ET on Friday based on the latest data from CoinMarketCap.

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