- Shibone has, however, described itself as SHIB’s best friend and one of the first tokens to be paired with $BONE liquidity on the Ethereum network.
- The Shibone network intends to be among the first decentralized protocols to launch on the Shibarium network.
Amid Shibarium copyright infringement accusations that have sent ShibaSwap tokens in the red today, Shiba Inu (SHIB) challenger Shibone Inu (SHIBONE) has spiked over 400 percent in the past 24 hours. Trading around $0.000000002641, Shibone Inu has a reported market capitalization of approximately $2.88 million and a liquidity of about $143.45k. Notably, the Shibone Inu market has recorded a 24-hour trading volume of approximately $1.1 million.
With a total supply of 899764.22 billion SHIBONE tokens, the ecosystem has a total of 697 holders as of today, according to on-chain data. Notably, the Shibone Inu has been trending on the Coinmarketcap top list in the past 24 hours, despite having a few community members.
Wooow!!! TOP 3 Trending on #CoinMarketCap mainpage! 🤩
This is just the beginning!!! #SHIBONE is #SHIB's best friend! You will see soon why! 😎🐶🐶🍖🚀🚀🚀😏🤫🔥$SHIB #BONE $BONE #ETH #Shibarium pic.twitter.com/q4Vdoxm5Nf
— SHIBONE INU TOKEN (@SHIBONEINUTOKEN) March 16, 2023
As a Shiba Inu competitor, the Shibone developers intend to create a decentralised token with utilities. Moreover, the Shibone network announced that it supports the Shiba Inu and the Shibarium layer 2 network through its official Twitter account.
According to the project’s description, Shibone has described itself as SHIB’s best friend and one of the first tokens to be paired with $BONE liquidity on the Ethereum network.
“We support the huge hype of the Shiba Inu ecosystem and their imminent launch of the long-awaited layer 2 blockchain Shibarium,” Shibone official website reads.
The Shibone network intends to be among the first decentralised protocols to launch on the Shibarium network. As such, the Shibone Inu network intends to benefit from the huge hype on the Shibarium layer 2 scaling solution.
Shibone Inu and the Crypto Market Outlook
With four stages of development, the Shibone Inu network intends to attract more than 50k holders through airdrops and protocol development. The ecosystem intends to focus on the NFT market and centralised exchanges listing in the coming quarters. As such, the Shibone Inu tokenomics have set aside a percentage for marketing, buybacks and automatic passive burns.
Notably, Shibone Inu intends to tap into the play-to-earn (P2E) industry with an upcoming game to launch soon. The core Shibone Inu team is based in Europe and the United States.
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The launch of the Shibone Inu comes when the crypto industry faces regulatory uncertainty in the United States amid the banking crisis due to high inflation. The crypto market promises to fight high global inflation by providing investors with deflationary assets that gain value over time.
Nonetheless, most meme coins have been called out due to the high number of tokens held by project founders. As such, investors are advised to understand projects’ tokenomics before investing cash, as the liquidity could get thinned over a long period.
