Shiba Inu’s BONE Soars 135% As SHIB Army Votes For Token Listing

As the week comes to a close, a multitude of developments in Shiba Inu’s (SHIB) journey to the moon have surfaced. First of all, $BONE, being the newest addition to the Shiba Inu ecosystem, is already making waves, as it experienced a sudden spike in its market price, while Binance announced Shiba Inu (SHIB) support for all Binance cards issued in the Eurozone.

What Triggered the Rise of BONE?

Shytoshi Kusama, the lead developer of Shiba Inu (SHIB), was full of joy on Twitter this morning, as he shared the news of SHIB’s governance token reaching a volue of over $1 apiece: “Well… looks like $BONE woke up”, Shytoshi remarked. At the time of writing #BONE is still trending on Twitter.

Well… looks like $BONE woke up. #SHIB #SHIBARIUM #SHIBARMY

— Shytoshi Kusama (@ShytoshiKusama) August 4, 2022

Since $BONE is relatively new to the ecosystem, it mainly serves as a reward token for the various activities conducted in relation to ‘Shibarium’. For instance, users can earn $BONE while “digging” in the ground in BONE farms. In other words: SHIB holders provide liquidity in exchange for $BONE rewards. It’s well known that dogs love to bury whatever they find, and members of the SHIB army are freely to stake their $BONE at a massive rate of 20.07% annual percentage yield (APY).

The community vote for BONE minting farms that took place one month ago altered the mint rate of BONE to 1 BPB (BONE Per Block). The decision was made to protect the community from overminting $BONE, thereby preserving the integrity of DAO votes.

At press time, the governance token $BONE trades at $1.14, according to CoinGecko. That represents a healthy increase of 29.7% over the last 24 hours, and a whopping 135.9% profit for the last 30 days. Ultimately, with the SHIB community actively voting for $BONE to be listed on the crypto exchange, the governance token has potential to reach new highs.

Shiba Inu (SHIB) Can Be Used to Pay in Shops

Putting the beloved dog-themed coin to work in a shopping mall has never been easier. Starting today, European Binance customers will be able to fund their cards with Shiba Inu (SHIB). The development unlocks Shiba Inu (SHIB) for used at over 90 million merchants—basically anywhere Mastercard is accepted.

We are pleased to announce that @binance has added SHIB to the list of supported tokens for the Binance Card issued in Europe.

You can now pay with SHIB at 60+ million merchants worldwide. Furthermore, get up to 8% cashback and zero annual or FX fees!

— Shib (@Shibtoken) August 5, 2022

Moreover, funding Binance’s card with Shiba Inu (SHIB) might bring some more pleasant surprises, as SHIB is eligible for up to 8% cashback. This comes just two weeks after Shiba Inu’s Shibburn portal announced its own card – the SB Visa card. The auto-burn card is in high demand among the SHIB Army, but it is yet unknown when exactly the SB Visa will hit the stores.

On the Flipside

Despite its successes, Earn elected to dismiss both of the top meme coins of Shiba Inu (SHIB) & Dogecoin (DOGE) from the program.

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