Shiba Inu’s Token Prices are Increasing for these Reasons

Ecosystem tokens on Shiba Inu have been selling under very extreme pressures. The situation is a result of the continuing crypto winter. Nevertheless, the latest news about the launch of the expected Shibarium brings excitement.

Shiba Inu Goes Up by 15% in the Past 24 Hours

In a recent blog post, the Unification Foundation announced that Shibarium will soon be deployed. The Foundation put the expected date of launch at the third quarter of 2022. The announcement resulted in a rise in all Shiba Inu tokens. 

SHIB token has had its price jump by over 15% within the last day. SHIB’s price is now more than 50% of its value in the last 7 days. It is, thus, trading at $0.000012 on average at the time of this report.

SHIB has now surpassed both Avalanche and TRON tokens. It has clinched the 13th position on the list of the world’s largest cryptocurrencies. SHIB is currently holding a market capitalization of about $6.37 billion.

BONE’s Trading Surged by 121% in 24 Hours

Another token that is heavily benefitting from the current trend is the Bone ShibaSwap. BONE has got its price rising by about 20% within the last day. As said by Shiba Inu, BONE is the ecosystem’s governance token.

BONE also stands as the major player with regard to rewards and farming. It has been rumored recently that BONE is going to become the gas of the anticipated Shibarium Protocol.

The traded volume of BONE within 24 hours surged up to 121%. The trade value also hit $3.05 million within the said time. The BONE token is trading at $0.542 on average at the time of this report.

The ecosystem’s third token, LEASH, which is dubbed the “Doge Killer”, also gained high. LEASH’s price value increased by over 10% in 24 hours. It is currently trading at $391.8 on average.

The token’s 24-hour trading volume jumped to as high as 100% as it stands at $806,000.

Further in the Crypto Market

On other fronts, there is speculation that Justin Sun might be planning a dump on USDD investors. As the asset keeps trading below the US dollar, investors worry about risks. USDD has fallen to as low as $0.93 since losing its peg on 13th June.

As of the time of this report, USDD is trading at $0.98 as reported by CoinMarketCap. The asset had a market capitalization of $723 million before it de-pegged. The market capitalization now stands at $704 million after going under $700 million earlier.

It is publicized that USDD runs on a decentralized algorithm. Many critics, however, argue for the negative. Against what obtains in other stablecoins such as UST, minting USDD is an exclusive activity.

Just a handful of whitelisted institutional operators are licensed to mint USDD. The operation is carried out by burning Tron’s native token, the TRX.