According to CoinDesk, the Shiba Inu (SHIB) ecosystem token bone (BONE) has seen a 10% increase in the past 24 hours, reaching a price of 90 cents in Asian morning hours on Wednesday. The tokens have a market capitalization of $233 million. This increase in value is likely due to the announcement that the deployer contract for bone tokens has been fully renounced, boosting its security. Trading volumes for the tokens rose over $3 million compared to Monday.

Renouncing a smart contract in the crypto world means that the contract's creator no longer has control over it, providing investors with a sense of security as the contract can no longer be changed or updated, and is thus protected from potential manipulation by the contract creator. Bone is one of three tokens, along with treat (TREAT) and leash (LEASH), used to pay fees and vote on governance matters on the Shibarium blockchain, which was released by Shiba developers in August.

In related news, calcium (CAL), a dummy token issued for the purpose of renouncing bone, has quickly gained popularity among activist investors. CAL reached a $10 million market capitalization before dropping 50% since peak prices on Monday.