Shiba Inu ecosystem’s token surges 10% in three days prior to Christmas
The Shiba Inu ecosystem token, BON, is up 10% over the past three days in time for Christmas. Since the end of the working week, the ShibaSwap token price has risen from $0.755 to $0.823 as of December 25.
Interestingly, the day BONE began to rise in price, the token became one of the most bought assets by the top 500 Ethereum holders, as reported by WhaleStats. In addition, BONE saw higher trading volumes on Dec. 18 and 19, exceeding the standard values by factors of 3 and 8.
What’s up with the bone?
The more the media sphere surrounding Shiba Inu Shiberium, the long-awaited layer 2 ecosystem protocol, is filled with news and rumors, the more frequently the price of BON fluctuates. The culprit of these events is BON Tokonomics, where only 70% of the total supply of 230 million BON is in circulation.
BONE currently has a market capitalization of $131.5 million, and the number of its holders, including Ethereum whales, is 64,166 addresses. Meanwhile, according to Etherscan, 17.96% of BONE’s total supply is concentrated on a single address, which also contains a small number of LEASH and SHIB, other tokens of the Shiba Inu ecosystem.
