Here’s Why Shiba Inu Ecosystem Tokens’ Prices Are Shooting Up

Shiba Inu Ecosystem tokens have been trading under extreme selling pressure due to the crypto winter. However, the recent update regarding the expected launch of Shibarium has left the community excited.

Shiba Inu up by 15% over last 24 hrs

In the latest blog, the Unification Foundation revealed that the most waited tool of the Shiba Inu ecosystem, Shibarium will be deployed in the 3rd quarter of this year. This announcement has led to an instant surge in the price of all Shiba Inu Ecosystem tokens.

Shiba Inu (SHIB) token’s price has jumped by more than 15% in the last 24 hours. SHIB prices are now up by 50% over the past 7 days. The token is trading at an average price of $0.000012, at the press time. SHIB token now has surpassed the TRON and Avalanche tokens to become the 13th largest cryptocurrency. It is holding a market cap of around $6.37 billion.

BONE 24 hr trading vol up by 121%

However, the Bone ShibaSwap (BONE) token prices are also up by around 20% in the last 24 hours. According to Shiba Inu, BONE is the governance token of their ecosystem. It is also considered the major player in terms of rewards/ farming. Recently, it was announced that the token is set to become the “Gas” of the much awaited Shibarium Protocol.

BONE’s 24 hours trading volume has jumped by 121% to stand at $3.05 million. The token is trading at an average price of $0.542, at the press time.

The third token of the ecosystem, Doge Killer (LEASH) prices are up by more than 10% in the last 24 hours. It is trading at an average price of $391.8, at the press time. LEASH’s 24 hour trading volume skyrocketed by over 100% to stand at $806k.

Shiba Inu might have faced some price decreases due to bear market conditions. However, it has managed to grow its holders. The total number of the SHIB holders is now approaching the 2 million landmark.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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