The Shiba Inu token WELL surpassed 190,000 holders as the launch of Shibarium’s Tier 2 is in full swing. Token staking and transactions have also increased, with 22 million tokens now in play as investors prepare for Shibarium. Despite explosive adoption figures, the price of the token has strangely fallen recently. BONE, the original Shiba Inu brand, has passed a major adoption milestone, surpassing 190,720 owners, with excitement growing for the upcoming release of Shibarium Layer 2. According to IntoTheBlock, the total number of addresses containing BONE has been steadily increasing and recently reached an all-time high of over 190,720.
This 50% increase in holders comes when the Shibarium preview is built, as it uses the token as its gas token. The number of new owners likely reflects investors hoarding BONE coins for Shibarium transactions. At one point last week, BONE added more than 2,000 new clips in one day as momentum snowballed.
Learn more about BONE’s contribution at Shibarium
As further evidence of the growing activity, the amount of OSTO invested by Shibarium has also exploded. Staking allows owners to confirm transactions online for a fee. According to reports, the total number of bets this week swelled to 22 million, a significant increase from 19 million at the start.
In addition, Shibarium has now facilitated over 600,000 transactions and collected nearly 450,000 registered wallet addresses.
Despite the spectacular growth of owners and internet usage, the price of BONE has strangely fallen recently. After peaking at $1.45 on August 25, profit has dragged the token down 11% over the past week. This gap between adoption and price may give savvy investors an opportunity before the network launches.
The long-awaited release of Shibarium promises to be a potential game changer for BONE and the wider Shiba Inu ecosystem. If Layer 2 can achieve its lofty goals, the boom in BONE adoption may just be beginning.
