Shiba Inu’s BONE token has experienced a flurry of activity over the last 48 hours, rising by an astounding 19% to a staggering $0.932 – its highest value since the beginning of September. What has been occurring behind the scenes, though, is what truly excites about this spectacular growth.
BONE, a key component of the Shiba Inu ecosystem, has reportedly been performing crazily on-chain, according to statistics from IntoTheBlock. Everything has been moving up, from transactions by significant BONE holders to analytics related to token holder addresses.
Notably, there are currently 1,060 daily active BONE holder addresses in the mix, with the number of active addresses surging by a stunning 85.3% in only the previous 48 hours. Additionally, the rate of new address growth has doubled, boasting 170 brand-new addresses per day. The number of nonzero BONE addresses has increased by an astonishing 150 over the previous two days, which has caused a notable rise on the charts. This is perhaps the most dramatic development.
The conclusion of the token contract renouncement is partly responsible for this frenzy of activity and astounding price increase. As previously reported by U.Today, this signifies that the contract owner has relinquished control, transforming BONE into a completely decentralised entity that is now shielded from any potential alterations and manipulations.
Both the Shiba Inu community and cryptocurrency fans are carefully following this electric spike, with BONE’s renewed life posing fascinating issues regarding its price trajectory in the future.
