$BONE, A Shiba Inu-Themed Coin, Launches on A Three Million-User Crypto Exchange

Recently, a Hong Kong based bitcoin exchange made a public proclamation. Its announcement said that just one trade pair would be available for BONE. Because of this, customers can exchange BONE for the most widely used stablecoin, Tether ($USDT).

The Popular Cryptocurrency Trading Platform Coinex Now Supports $BONE Trading

ShibaSwap is a decentralized cryptocurrency exchange, and $BONE is its ruling token. Shiba Inu community utilizes $BONE as a currency. $BONE is also one of three coins used within the Shiba Inu environment. These are the other two tokens: $SHIB and $LEASH.

Dig is a feature of ShibaSwap that allows users to contribute to the platform’s liquidity. The BUY feature of the platform also enables users to stake their tokens. WOOF rewards on investments are another feature of the site (NFTs). This is in addition to allowing users to acquire non-fungible tokens.

CoinEx included the meme-inspired Floki Inu ($FLOKI), a competitor cryptocurrency, on its exchange in May this year. At the time, FLOKI was already trading on several other exchanges. Huobi Global is one of these exchanges, dramatically boosting the token’s availability.

However, $BONE is not yet available on leading cryptocurrency exchanges, including Binance and Coinbase. Decentralized exchanges facilitate the vast bulk of cryptocurrency transactions. SushiSwap, Uniswap, and ShibaSwap are all examples of such trading platforms. 

$BONE can be bought and sold on regulated markets like BitMart, MEXC, BKEX, and LBank.

The Shiba Inu community have achieved a lot of accomplishments in many fields. Recent progress occurred over many weeks. As per reports earlier this week, the rate at which SHIB coins are burning has dramatically accelerated. 

Coincident with this increase was the participation of so-called “whale” investors in Ethereum ($ETH), who helped burn tokens. Tokens of the Shiba Inu cryptocurrency are “burned” when sent to dead wallets. They are essentially eliminated from circulation since they cannot be retrieved. 

Activities Performed with The Goal of Increasing Value

On the Ethereum network, “dead wallets” have been abandoned and can no longer be accessed. Cold wallets, another name for dead wallets, are those that no more an extended function. The SHIBArmy has long stood by the practice of token burns. It’s a way to reduce the supply of cryptocurrency inspired by internet memes. 

As a result, if demand is steady or grows, the tokens now in circulation should appreciate. Half a year ago, the Shiba Inu community burned 410 trillion tokens. Coinbase users kept Shiba Inu ($SHIB) the median duration before selling or moving it has reached six months. 

Currently, the site’s average holding duration for Shiba Inu is 190 days. Investors in Bitcoin ($BTC), Cardano ($ADA), Ethereum ($ETH), and Solano ($SOL) often keep onto their coins for a shorter amount of time than this.

Developers and the community have kept Shiba Inu running despite the departure of the project’s creator. Investors in Shiba Inu are presumably HODLing on their assets since more mainstream solutions are imminently forthcoming.