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7 December 2023
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Breaking: Shiba Inu Completes BONE Renouncing, Price Surge Ahead?

On September 27, Bone crypto surged in price after the community confirmed the completion of its renouncing process

The Shiba Inu (SHIB) crypto has been on the investors’ radar for some time, due to a flurry of developments in its community. Meanwhile, investors are keeping a close watch on the Bone ShibaSwap (BONE) crypto, as evidenced by the surge in its price. Meanwhile, the investors anticipate the potential listing of BONE crypto on major exchanges, as the Shiba Inu team has formally renounced the token’s contract.

BONE ShibaSwap (BONE) Token’s Contract Renunciation

The Shiba Inu development team has taken a significant step by officially renouncing the contract of Bone ShibaSwap (BONE), the gas token for Shibarium. The official announcement, shared on the Shiba Inu X platform, featured a message from Kaal Dhairya, one of the key developers behind Shiba Inu.

Dhairya emphasized that the renunciation of the BONE contract was executed through the TopDog contract, providing transparency and visibility to the process. To substantiate this, Dhairya included a link to Etherscan in the tweet, allowing users to verify that the BONE contract renunciation took place precisely at 21:04 (UTC) on the previous day.

This move comes on the heels of Shiba Inu’s recent announcement that the development team had made substantial progress in minting the remaining supply of BONE tokens. It’s important to note that the minting of these remaining tokens is a crucial prerequisite for renouncing the contract associated with the token.

Previously, the Shiba Inu community had voted to halt BONE minting once the token supply reached 230 million. However, an agreement was reached within the team to mint the remaining 20 million tokens, designating them for Shibarium validators.

In a clear demonstration of their commitment to the project and its future, the Shiba Inu development team has successfully minted the remaining BONE supply and, subsequently, carried out the renunciation of the token’s contract. This strategic move underlines their dedication to the project’s long-term success and the growing ecosystem of Shibarium.

Bone ShibaSwap (BONE) Price Rises

Notably, the investors seem to have lauded the announcement, as evident by the surge in the Bone ShibaSwap (BONE) crypto price. The Bone price was up 7.41% as of writing on September 27 and traded at $0.9066. Over the last 24 hours, the crypto’s volume added 56.85% to $8.35 million, while its market cap jumped 5.11% to $204.94 million.

The renouncement news has fuelled optimism of the investors, as several market participants are now expecting the crypto to get listed on major exchanges in the coming days. Meanwhile, today’s gain also helped Bone crypto to add around 10% over the past week.

However, the Shiba Inu price was down 0.79% to $0.000007213 as of writing on Wednesday.


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