ShibaSwap's BONE Token Shines Bright As 85% Holders Reap Profits

Bone ShibaSwap (BONE), the governance token of the Shiba Inu decentralized exchange (DEX) known as ShibaSwap and the future gas fee token for the forthcoming layer-2 scalability solution Shibarium, has stood out among other tokens due to its near-perfect track record in terms of the percentage of its current holders in profit.

According to data from the crypto analytics platform IntoTheBlock, there are 69,710 addresses, accounting for 85.54% of total BONE holders, that are currently in a profitable position.

At present, BONE has seen a 1.38% increase and is trading at $1.63, representing a 7.2% gain over the past seven days, a 30.4% surge in value over the past two weeks, a 17.0% uptrend over the last 30 days, and a 59.8% price boost over the past year.

Investor interest in the ShibaSwap governance token has risen after Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, disclosed that BONE would serve as the gas fee token for Shibarium.

Over the weekend, BONE's value surged as Kusama unveiled the Shiba Ecosystem's plan to incorporate Shib Self-Sovereign Identification across all apps on its platform, particularly within the layer-2 scalability solution.

BONE reached its all-time high price of $15.50 on July 7, 2021, over two years ago. The Shib Army, the dedicated and passionate members of the Shiba Inu community, holds hope that the token's value will soar past its ATH price when Shibarium is officially launched.

"BONE is absolutely smashing it," stated @LucieSHIB, a marketing strategist for Shiba Ecosystem and Shibarium Tech, in an interview with International Business Times.

She shared her opinion on the token's latest achievement, saying, "This token is not just about numbers; it's about delivering value and building an unstoppable community. The world is taking notice."

While other tokens within the Shiba Ecosystem also experienced significant gains over the weekend, BONE surpassed SHIB, the ecosystem's native token, and DOGE-Killer LEASH, an ERC-20 token, in terms of the number of addresses in profit.

Approximately 261,980 addresses, or around 20.5% of SHIB holders, are currently in profit, while about 9,450 addresses, or around 32.97% of LEASH holders, are in profit.

As of 2:03 a.m. ET on Tuesday, BONE was trading at $1.63, with a 24-hour trading volume that had risen by 2.91% to $10,429,634. This signifies a 0.36% increase in the past 24 hours and a 7.17% gain over the previous seven days.

Based on the latest data from CoinMarketCap, BONE's total circulating supply is 229,923,351 BONE, with its value having increased by 1.01% to a market cap of $375,678,752.