Shiba Inu marketing strategist Lucie has taken to X to explain the major reasons behind the creation of Bone (BONE), ShibaSwap’s governance token.

Read more on: https://thecryptobasic.com/2024/05/10/shiba-inu-team-unveils-main-reason-why-it-created-bone/
#SHİB #BONE #Crypto #CryptoNews” #CryptoNewsFlash

The post "Higher Shibarium Gas Fees Might Be Good For SHIB Burn Says Lucie" first appeared on 36crypto News.

#ShibaInu marketing strategist Lucie has revealed that higher Shibarium gas fees may be advantageous for Shib Burn. She revealed this via a post on her X (formerly Twitter) account stressing the importance of using Shibarium to this end.

In the post, Lucie explained in detail how utilizing Shibarium can increase burns at an extra cost to Shiba Inu users. She explained that introducing millions of users to Shibarium will be time-consuming and require community effort.

Lucie went on to promise that further information about the burn method would be revealed in subsequent documentation but pointed out that it had already been explained over the last 6 months in a provided Shibarium document. Furthermore, she stressed the importance of more people joining the Shibarium network as it will in turn be good for #SHIB token burns.

Users should expect higher Shibarium gas fees

Lucie continued with the question of whether Shibarium users should subsequently expect increased gas fees. “Can we expect higher fees? OF COURSE,” she wrote, then proceeded to explain how higher traffic on the Shibarim network will drive up the gas fees.

Lucie attached to her tweet a screenshot of a year-old Discord conversation by Shytoshi Kusama – lead developer. In the conversation, Kusama talked about the frequent suggestions from people to burn the entire SHIB supply.

He pointed out that burning the total Shiba Inu tokens in circulation will require billions of dollars, so instead they have implemented another plan that involves using Shibarium to increase the number of Shib Burns.

“Occasisonally I get messages like BRO burn the entire supply of SHIB. So I sat with Kaal and we figured it would cost in the billions to burn SHIB to get a truly world-changing significant rise in price. To do so, we have implemented a plan like the one you are seeing,” he wrote.

The way the process works is that developers set aside a percentage of the gas fees in #BONE tokens, which are eventually converted to SHIB and transferred to dead-end wallets.

Over time, a total of 410 trillion SHIB tokens have been burned still remaining over 570 trillion in circulation according to data from Shibburn. 43,679,654 (43 million) Shiba Inu tokens have been successfully removed from circulation over the last 24 hours. At the time of writing, SHIB is currently trading at $0.000007 and the price is down 1.27% in the last 24 hours.

As earlier reported by 36crypto, #Shibarium has successfully achieved a new milestone as the number of users on the network surpasses 1 million.

The forecasts differ based on different price projections for Bone #ShibaSwap ($BONE) in 2025:CoinDataFlow projects that the #BONE price will increase by 669.8% to $4.85.According to CoinCodex, the range for 2025 is $1.23 to $5.24.According to Gate.io, a peak of $1.58 might occur by 2030.By the end of 2025, DigitalCoinPrice predicts an increase of 207.11%, #crypt reaching $2.27.According to AMBCrypto's analysis, the range for 2025 is $2.55 to $3.83.These forecasts should be regarded as speculative since they are dependent on a number of variables. Since the #cryptocurrency market is so erratic, actual prices could be different from these projections. It is imperative to carry out comprehensive research and take into account various information sources prior to making any #Cryptocurrencies investment decisions.

Based on the #cryptonews search results, the $Bone ShibaSwap price prediction for January 2024 ranges from $1.26 to $1.45, with an average price of $1.36.However, another prediction suggests that the price of Bone #ShibaSwap is predicted to drop by -7.25% and reach $0.713138 by December 25, 2023.Meanwhile, another prediction indicates that #BONE will start the year 2024 at $2.30 and trade around $2.82, with a possibility of reaching an all-time high of $2.75 or $2.87 in 2026.It is important to note that #cryptocurrency markets are highly volatile, and these predictions may change rapidly. Therefore, it is advisable to use discretion and make informed decisions when investing in #Cryptocurrencies .

Shibarium, the eagerly awaited layer-2 solution designed for the SHIB army, successfully achieved functionality on August 28th, after encountering a tumultuous debut characterized by technical challenges that garnered criticism from the wider cryptocurrency community. The commencement of the launch heralded a forthcoming epoch of enhanced efficacy for individuals holding SHIB, who had fervently anticipated this resolution for a duration exceeding one year.
Nevertheless, the most recent data presents a concerning depiction of Shibarium's present condition, characterized by a significant decrease in user engagement and network activity levels that bear resemblance to its first operational phase.
The data obtained from the Shibarium explorer indicates a notable decline in user engagement. On November 6th, Shibarium saw a much lower number of transactions, namely 9,740, in comparison to the network's highest recorded daily transactions on September 11th, which reached over 202,000. The decrease in performance gives rise to apprehensions regarding the project's sustainability in the long run and its capacity to fulfill its commitments in terms of scalability and efficiency.
The launch of the Shib Name Service (SNS)
The decrease in the number of newly created addresses within the chain has a strong correlation with the fall seen in daily transaction volumes. Despite the implementation of Shiba Inu's "Shib Name Service" (SNS) on October 30th, this phenomenon continues to endure.
The decentralized naming service known as SNS enables users to generate human-readable addresses for their Shibarium wallets. Despite the intended objective of improving user experience and accessibility, the debut of the social networking service (SNS) has failed to effectively address the issue of diminishing user engagement on the platform.
The Effect of Price on BONE
The challenges faced by Shibarium extend beyond user interaction and have implications for the valuation of its native cryptocurrency, BONE. According to the most recent data provided by CoinGecko, the present value of BONE is recorded at $0.734137. This figure reflects a notable growth of 4.0% over the last 24-hour period, as well as a 2.5% upward trend over the course of the past week.
In the spot market of the token, it is seen that a majority of players have been engaging in the distribution of their BONE holdings. This trend is discernible from the momentum indicators displayed on a 24-hour chart. The prevalence of selling pressure beyond accumulation is a matter of concern for the prospective worth of the token.
The failure of Shibarium subsequent to its introduction has raised several worries among members of the cryptocurrency community. The project's failure to sustain its early pace subsequent to a difficult debut raises concerns among investors and devotees. The decrease in user involvement, despite the implementation of user-friendly features such as social networking services (SNS), indicates that Shibarium's technological infrastructure requires significant attention to address the underlying problems.
Shytoshi Kusama has been engaging in the sale of goods to the Shibarmy community, therefore accumulating funds in their own wallet.
Shib's track record has been characterized by a discrepancy between rhetoric and tangible outcomes. Despite initial success, his subsequent endeavors, including shiboshis, property ventures, Shibarium, and social networking services, have all proven to be unsuccessful. The user's text contains an inappropriate expression.
The Twitter handle "@0xMefam" posted on November 1, 2023.
Literature Review: The Cardano October Whale Frenzy and Prospects for the Upcoming Month of November.
The declining number of users has a direct influence on the valuation of BONE, as the prevailing market conditions are characterized by a significant presence of selling pressure. In order to restore its position, Shibarium must undertake measures to rectify technical concerns, enhance user experience, and reestablish the confidence and excitement of its user community.
The Shibarium project, first seen as a promising layer-2 solution for the $SHIB community, is presently confronted with a crucial examination of its sustainability in the long run. The decrease in user interaction and its impact on BONE's pricing suggest that the project is confronted with some obstacles that need to be addressed. The performance and potential of Shibarium will be constantly monitored by investors and fans.

#ShibaInuPriceForecast #SHIBCommunity #BONE

#FDUSD Shiba Inu ecosystem token and probably the key element of the upcoming Shibarium, BONE, is showing extraordinary price action today. Over the past 12 hours, the token's price has been rising explosively, showing a momentum gain of as much as 11%. As a result, the price of BONE has updated the highs of the last couple of weeks and returned to the levels it was trading at at the end of the first decade of July.

The reason for this kind of performance can be attributed to growing anticipation of the release of Shibarium. Talks about the long-awaited release have been going on for a long time now, and in recent days more and more news has started to appear in the media field, hinting that Shiba Inu's Layer 2 solution will be released soon.

One such piece of news was the announcement that the beta version of Shibarium Bridge has been launched for public testing. As stated, the bridge will provide support for the Ethereum token standard, ERC-20. Once the bridge is launched on the main network, it will likely provide high liquidity to Shibarium. It will also significantly increase the utility of the protocol's network.

BONE on Binance? Who knows

Other than that, one could speculate that BONE's price rise at this point is an anticipatory reaction to some upcoming news. As often happens on the crypto market, first the price rises, and then the reason becomes known.

In this case, without rejecting the theories about the imminent launch of Shibarium, such a reaction could have been provoked, for example, by an impending listing on some major exchange. Who knows, maybe soon #BONE will get a long-awaited listing on #Binance , which the #ShibaInu community has been asking for for a long time.#Worldcoin

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LaborX, a job platform, has made it possible for users to use BONE, a token from the Shiba Inu ecosystem, as a payment method. This means users can now pay and receive payments using BONE tokens on the platform.

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LaborX, a platform that connects clients and freelancers in the crypto industry, has announced an update for Shiba Inu supporters. They revealed that they’ve integrated BONE, a token from the Shiba Inu ecosystem, as a payment option.Users on LaborX can now use BONE for payments and receiving payments, as stated in their tweet.
Shiba Inu’s BONE Now Accepted on LaborX
LaborX has taken another significant step in its integration of the Shiba Inu ecosystem. Although they had already included Shiba Inu as a payment option in February, they’ve now gone further by adding BONE, a token from the Shiba Inu ecosystem, making it a full integration.
This means LaborX users can transact with both SHIB and BONE tokens, allowing them to send and receive payments using these supported assets on the platform.
The SHIB community welcomed this move with enthusiasm, and LaborX has expressed its admiration for the Shiba Inu community in the past, preferring SHIB over Dogecoin due to the “awesome” Shiba Inu community in a CoinGecko poll last year.
More Platforms Accept BONE Payments
LaborX isn’t alone in incorporating Shiba Inu’s BONE token for payments. Several months ago, the Crypto Basic reported that a well-known Canadian crypto payment platform called FCF did the same. FCF made it possible to use BONE for buying digital assets through their prepaid card services.What’s noteworthy is that FCF didn’t stop at just BONE and Shiba Inu payments; they also extended support to the ecosystem’s DOGE Killer token, LEASH.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #cryptomarket #ShibaInu #BONE