Shibarium Central Token (BONE) Rallies 18%, Leaving Shiba Inu And Dogecoin In The Dust

Shibarium’s central token BONE BONE/USD rose more than 18%, reaching the $1 mark early on Thursday morning.

What Happened: At the time of writing, BONE was trading at $1.10. BONE is the core token of the eagerly awaited Shibarium, the Layer 2 upgrade of the Shiba Inu network.

See More: Best Crypto Day Trading Strategies

BONE is outperforming meme cryptocurrencies such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD.

DOGE was trading at $0.07465, up 3.21%. SHIB was trading at $0.000008728, up 5.50% in the last 24 hours, according to Benzinga Pro.

The rise in BONE price can be attributed to the lead developer of Shiba Inu, Shytoshi Kusama, congratulating the SHIB community on the Christmas and New Year holidays and reassuring them that the crucial upgrade is going to be launched "very soon."

It is anticipated that BONE will be the dominant token on Shibarium, since it will be used to cover transaction costs which, in turn, will contribute to increasing the rate of SHIB burning.

Market News and Data brought to you by Benzinga APIs

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Shibarium Central Token Rallies 18%, Leaving Shiba Inu And Dogecoin In The Dust