Shiba Inu Team Explains Why This Token Should be a Valuable Part of Investors’ Portfolios

05.08.2024

Shiba Inu marketing lead, Lucie, highlights the potential of Bone ShibaSwap (BONE) and why it should constitute a valuable part of investors’ portfolios.

According to Lucie, BONE plays a central role within the Shiba Inu ecosystem, potentially bolstering its demand and value.

BONE Integration with Shibarium and DAO

In a recent tweet, the marketing lead emphasized that BONE is the official gas fee token of the Shiba Inu ecosystem’s layer-2 blockchain Shibarium. This suggests that Shibarium users must leverage BONE to initiate transactions on the L2 network.

In addition, Lucie revealed that BONE will become one of the governance tokens in Shiba Inu’s decentralized autonomous organization (DAO) once it goes live.

With its integration as a governance token, users can leverage BONE to vote on crucial decisions that could potentially influence the ecosystem’s future.

Capped Supply and Future Growth

Interestingly, Lucie mentioned BONE’s limited supply as another factor that could bolster its demand and value. It is noteworthy that BONE’s supply is capped at 250 million, with 229.92 million tokens currently in circulation. According to Lucie, BONE’s limited supply could drive up its value as demand increases.

Furthermore, the marketing lead revealed that BONE will play a crucial role in Shiba State by establishing the guidelines and framework relating to data privacy, technology, and digital rights.

Lastly, Lucie indicated that BONE has enormous room for growth as the ecosystem expands with new partnerships and projects. Amid these growing partnerships and projects, Lucie asserted that demand for BONE would skyrocket, potentially boosting its price.

Meanwhile, she clarified that while BONE boasts numerous potential, her commentary about the token is not financial advice. Hence, investors are required to exercise caution.

BONE Current Performance

At the time of writing, BONE is trading at $0.3645, marking a drawdown of 13.41% in 24 hours. BONE is also down 28.21% in the past seven days following a prolonged dip across the crypto market.

In the meantime, the token’s 24-hour volume has surged 110.57% to $10.88 million. With a market cap of $83.47 million, BONE is currently ranked as the 328-biggest crypto in the market.