An altcoin in the Shiba Inu (SHIB) ecosystem, a competitor to Dogecoin (DOGE), is quietly making huge monthly gains as the rest of the market trades lower or sideways.
At the time of writing, ShibaSwap Bone (BONE) is in a parabolic rally, up 162% in August and 62% in the past 24 hours.
BONE is the governance token of ShibaSwap, the Shiba Inu Project’s local decentralized exchange (DEX). It allows users to vote on upcoming proposals, and the more bones a person has, the greater the weight of their vote.
Enthusiasts of the MemeCoin ecosystem are currently anticipating the launch of “SHIB: The Metaverse”, which is scheduled for this year.
According to an announcement made in March:
“Shiva: The Metaverse is the culmination of our history as a community, in effect, displayed on a level of stunning visuals that showcase our innovation and unity with the place we truly call home.
The Shiba Ecosystem will be fully utilized by the SHIB: Metaverse Project, meaning that all $SHIB, $LEASH, $BONE tokens will play a role as they are rolled out in stages. Understanding this ecosystem concept is important as we evolve as a project and promote new releases. The community will have plenty of interactions, future choices and creative ways to immerse themselves in this environment. »
Bones are also planned to be gaseous tokens in Shibarium, a tier 2 meant to grow the Metaverse ecosystem.
With a supply of 250,000,000 tokens, BONE is trading at $1.62 with a market capitalization of just over $120 million, and is currently the best performing coin among the top 250 crypto assets.