Token

Shiba Inu

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In a startling development, the on-chain metrics of the Shiba Inu token, BONE, have surged an astounding 1,000% in the past 24 hours, per data unveiled by <a href="https://app.intotheblock.com/coin/BONE/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a>. 
Remarkably, the volume of substantial transactions, those exceeding $100,000, has catapulted from $102,610 to an astonishing $1.12 million. This surge in transaction volume translates to a staggering turnover of 905,960 BONE tokens. 
<img alt data-entity-type="file" data-entity-uuid="1986caf9-4243-4c8d-a91f-b6702719a2d4" src="https://u.today/sites/default/files/inline-images/shibbb_2.png">Source: <a href="https://app.intotheblock.com/coin/BONE/deep-dive?group=financials&amp;chart=largeTransactions" rel="noopener noreferrer nofollow">IntoTheBlock</a> 
Further adding to the intrigue, a parallel surge in activity has been observed in wallets held by major <a href="https://u.today/708-billion-shib-withdrawn-from-gemini-theres-a-big-catch" rel="noopener noreferrer nofollow">Shiba Inu token</a> holders. Data indicates a substantial influx of tokens into addresses owning at least 0.1% of the BONE supply, driving token inflows to an impressive 2.27 million tokens. Conversely, an equivalent outflow, amounting to 2.42 million BONE tokens, has been recorded from these substantial wallets. This results in a net negative flow of 146,000 tokens over the last week. 
<img alt data-entity-type="file" data-entity-uuid="95fc9824-6bc2-43c8-a4a1-532ea399db22" src="https://u.today/sites/default/files/inline-images/bone_0.png">Source: <a href="https://app.intotheblock.com/coin/BONE/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a> 
Although initially appearing as a potential concern, the context provides a positive twist. Most of these addresses are associated with the hot wallets of prominent cryptocurrency exchanges. The outflow of tokens from these exchanges is generally seen as a favorable trend. 
The surge in on-chain metrics aligns intriguingly with the backdrop of <a href="https://u.today/shibarium-optimized-and-almost-ready-for-reopening-xrp-lawyer-says-sec-caused-inestimable-damage" rel="noopener noreferrer nofollow">Shibarium</a>'s update. Despite a rocky launch and subsequent ongoing efforts by the development team to mend breakdowns, a notable <a href="https://u.today/shiba-inu-shib-getting-ready-for-round-2-price-makes-comeback" rel="noopener noreferrer nofollow">Shiba Inu</a> team member, known as Lucie within the community, has confirmed Shibarium's "live and running" status. It is important to note that while the protocol is currently in a closed mode, plans for a main network restart are imminent.

Shiba Inu Token BONE Booming 1,000% On-Chain Amid New Shibarium Update

U_Today

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