Shiba Inu scores listings on huge exchanges – Will it drive SHIB price to $2?

  • With the BONE listed on many crypto exchanges, the Shiba Inu ecosystem predicts that the listings will push the price of the meme cryptocurrency to $2 in the coming weeks.
  • The network is gearing up for its long-awaited Shibarium update, expected to usher in SHIB’s transition from an ERC-20 token to a self-sufficient network.

Shiba Inu has witnessed a significant surge following its listing on several crypto exchanges, with the token now available for trading on most platforms. Accordingly, the asset has emerged as the leading meme altcoin to be listed on most crypto trading platforms.

BONE Enters New Platform

In a recent tweet, a New York-based digital asset trading platform, Uphold, announced that BONE is now available for trading on its marketplace. As a result, retail traders could now buy and sell the canine cryptocurrency. BONE is the native token of the ShibaSwap community that enables community members to vote on project proposals.

Furthermore, a day before Uphold announced its listing of the meme token, another crypto exchange, SunCrypto, an India-based platform, revealed that BONE is available for trading. Thus, the listings saw the value of this Shiba Inu asset spike by 12 percent, from $0.7175 on December 3 to $0.8034 on December 4.




However, the recent listings are part of the growing number of crypto exchanges that have already listed the canine digital asset. In September, the Hong Kong-based LBANK also listed Shiba Inu’s governance token. The custody-free crypto exchange, StealthEX, also integrated support for the asset simultaneously.

BlueBit.io also joined the list of digital asset service providers by adding the token to its platform. The Shiba Inu network launched its governance token last year. Since then, the asset’s price soared, reaching its all-time high of $3.02 on October 8. BONE is the new token in Shiba Inu’s decentralized (DEX) ecosystem.

A Shib Army member can vote on any upcoming community proposals as a BONE holder. Moreover, the more BONE assets a community member holds, the more their opinions count in any upcoming Shiba Inu ecosystem plan.

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Ultimately, the highest token holders get to influence any future initiative in the community. However, BONE’s accumulation only began to rise after Shiba Inu’s lead developer revealed that the asset would serve as a gas fee for the forthcoming Layer-2 solution for the network.

Shiba Inu Ecosystem Anticipates Shibarium Upgrade





The network is gearing up for the long-awaited Shibarium update expected to usher in SHIB’s transition from an ERC-20 token on the Ethereum protocol to a self-sufficient network. The upgrade will end Shiba Inu’s dependency on the Ethereum network while providing more efficiency and low transaction fees.

As the launch of the Shibarium update nears, investors are attempting to add BONE to their growing portfolios in anticipation of a price surge when the upgrade is finally launched. BONE is currently the most popular asset on various social media sites and the most mentioned on the microblogging platform Twitter.

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Over the past week, the value of BONE has soared by 22 percent and occupies the 166th spot among altcoins in terms of trading volume, as revealed by CoinGecko data. At the time of writing, BONE is trading at $0.8395, with a 3.61 percent increase over the past 24 hours, according to the same data. With the positive sentiment surrounding the asset, BONE will likely surge further to $2 as investors seek to accumulate more in the coming days and weeks.

 

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Paul is a cryptocurrency enthusiast from Canada, and since 2021 he has been writing about cryptocurrency for online news portals. He writes mostly news-related articles. Stay tuned to his posts to stay up to date with the crypto world.

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