Shiba Inu ecosystem token, Bone (BONE/USD), has seen a 5% increase in its value over the last 24 hours. This comes at a time when other prominent meme coins, including SHIB, DOGE, and Pepe Coin, have been facing declines.
At the time of observation, BONE was trading at a price of $1.22. In contrast, some of the more popular meme coins witnessed drops in their values, with SHIB, DOGE, and PEPE declining by 1.9%, 1.4%, and 0.4% respectively. BONE has surged from a 24-hour low of $1.18 to a high of $1.24 before falling to its current price.
The sudden rise in BONE’s value is believed to be linked to an announcement from the Shiba Inu ecosystem. The lead developer, Shytoshi Kusama, unveiled plans to transition the Shiba Inu Layer 2 blockchain network, Shibarium, to a private mode.
This significant move follows the recent challenges faced by Shibarium. Despite being a layer-2 blockchain specifically designed for the Shiba Inu ecosystem on the Ethereum platform, Shibarium had a less than stellar launch. Due to technical issues, this part of the community found it challenging to adopt the platform, leading to its limited traction.
The future implications of this transition to a private mode remain to be seen, but it has undoubtedly stirred interest and speculation within the cryptocurrency community.
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