• The Shiba Inu Ecosystem has seen a 145% increase in new addresses for the BONE token within the last seven days.
• This increase is likely due to the upcoming launch of Shibarium Layer 2, which will designate Bone as its gas token.
• Mentions of $Bone on social media have risen to 1.2 million, with active addresses surging by 124%.
Shiba Inu Ecosystem Sees Surge in Addresses
The Shiba Inu Ecosystem has witnessed an impressive surge in new and active addresses for its BONE token within the last seven days. Recent data from IntoTheBlock reveals that there was a 145% increase in new addresses for BONE, while active addresses increased by 124%.
Reason Behind Increase
This development may be related to the upcoming launch of Shibarium Layer 2, which is scheduled for August 2021. Upon release, Shibarium intends to designate Bone as its gas token, providing an incentive for users to hold and use it, potentially driving its value upwards.
Social Media Attention
Mentions of $Bone on social media have risen significantly over the past 48 hours, reaching 1.2 million references. While most of these mentions were positive initially, they have become more neutral in recent times – resulting in a decline in performance.
High Transaction Fees
In addition to this surge in attention and activity on social media platforms, Santiment also reported high transaction fees associated with SHIB earlier this week – indicating an increase in network activity overall.
As the release of Shibarium Layer 2 approaches and more users join the Shiba Inu ecosystem, it appears that there is potential for further growth and appreciation of Bone’s price as it becomes increasingly utilized within the network.