The meme coin Bone ShibaSwap (BONE) is hovering at around 98 in the crypto top 100 due to speculation over the Shibarium Beta launch.
The Shiba Inu community has been eagerly waiting for Shibarium, the Layer 2 scaling solution from the meme coin’s team. However, they may not have to wait long as the Shiba Inu lead developer, Shytoshi Kusama, hinted at a Shibarium beta release next week.
Shytoshi also updated his Twitter bio to “On fire & on schedule.” However, there has been no official announcement of the release date. The community believes that Shytoshi is a master procrastinator, and anytime he says, “very soon, it takes a bit longer.”
Bone ShibaSwap (BONE) Enters Top 100
BONE is the governance token of the ShibaSwap ecosystem. Last month, on Jan. 5, the Shibarium network confirmed on Twitter that BONE would be used for gas fees on the Layer 2 protocol. Since then, the token’s price has rallied almost 100% and is trading at $1.8595 as of writing.
BONEUSDT, MEXC, Source: TradingView
With the recent price rally, BONE has made it to the top 100 cryptocurrencies based on market capitalization. According to CoinMarketCap, BONE is standing at 98th rank as of writing. However, the token ranks #113 on the cryptocurrency data aggregator, CoinGecko.
Tokens like Shiba Inu and BONE and other meme coins and are extremely risky. Whales can manipulate the price because the supply of tokens is largely concentrated in a few wallets. Investors must do their own research before putting money on meme coins.
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.