The Shibarium launch, a revolutionary addition to the Shiba Inu ecosystem, has shocked the SHIB market and driven the on-chain metrics of the BONE token to astounding new heights. The BONE coin has seen a considerable increase in on-chain activity within 24 hours after Shibarium launched.
Data from IntoTheBlock demonstrates a monumental 200% increase in on-chain metrics for the BONE coin, revealing an amazing leap. A remarkable feat that amounts to a stunning $5.09 million increase in value, the volume of significant token trades increased dramatically from 3.5 million to an astounding 7.38 million BONE.
The wallets of well-known BONE owners become a source of attention as the release develops. Particularly noteworthy is the striking increase in activity that has been seen in locations that contain at least 0.1% of the overall supply. During this critical time, inflows to these addresses increased by an incredible 210%, resulting in a stunning replenishment of 6.64 million BONE tokens.
The situation is not without its complications, though. On the other hand, these locations have had substantial outflows totalling 6.78 million BONE. This outflow is 2.1% more than the inflows.
This early rush of numbers provides a tantalising insight into the impact of Shibarium’s entrance, albeit the spike in on-chain measures following Shibarium’s inauguration is undoubtedly eye-catching. The entire scope of its effects, though, won’t be clear for some time. It is also important to note that the launch was not without its share of difficulties, which gives the story as it develops a fascinating level of complexity.
