Shiba Inu: BONE Price Tracker Finally on Binance; Listing Soon?

Paigambar Mohan Raj

Shiba Inu (SHIB) fans can now track the price movements for SHIB’s governance token, BONE, leading to speculation about whether the exchange will finally list the token on its platform for trading purposes.

Source: Binance

Shiba Inu’s BONE token has been getting a lot of limelight, which could be attributed to BONE being the gas token for SHIB’s upcoming layer-2 protocol, Shibarium.

BONE currently serves as ShibaSwap’s governance token, enabling the SHIB Army to vote on new proposals. The more BONE they own, their vote influences these upcoming decisions.

The Shiba Inu team had previously revealed that there will only ever be 250 million BONE tokens. However, with the impending Shibarium launch, 20 million BONE are needed for Shibarium and validator roles. The Doggy DAO is voting whether the team should halt BONE production at 230 million and keep the remainder for Shibarium or increase supply to 270 million. As of now, most voters (98%) are inclined toward the first option, i.e., halt BONE supply at 230 million. The vote will end on the 26th of June.

Bright days ahead for Shiba Inu?

SHIB still seems to be a favorite among Ethereum whales. According to the data available on Whalestats, the highest held token among the top 100 ETH whales is SHIB. The whales are most probably anticipating a pump due to the Shibarium launch.

Source: Whalestats

Shiba Inu has received a lot of attention from Binance in the past. The exchange launched a massive offer to reward new users with 45K SHIB tokens as part of its learn and earn initiative. An enormous offer to reward new users with 45K SHIB tokens with 100% APY was launched this month by Binance Learn and Earn.

At press time, Shiba Inu was trading at $0.00001012, up by 15% in the last seven days and 62% in the previous year. However, the project is still 88.1% down from its all-time high of $0.00008616.