The SHIB team has clarified something many in the community may have overlooked – BONE isn’t just a meme token!
In a fresh update from SHIB-affiliated account @Shibizens, the community was reminded that BONE, often seen as a joke in the Shiba Inu ecosystem, is actually doing a lot of heavy lifting behind the scenes.
“BONE is a meme. That’s the joke. But here’s the secret: It’s also gas. It’s also DAO. It runs Shibarium. Take your dose,” the post read.
What does this mean, though?
Here’s what many still don’t realize: BONE powers Shibarium, the SHIB ecosystem’s Layer-2 blockchain. Every transaction on Shibarium uses BONE as gas. It also gives holders governance rights as a DAO token.
But most importantly, and this is where it gets interesting, BONE is directly tied to SHIB burns.
Whenever someone uses Shibarium, a portion of the gas fee (paid in BONE) is set aside, converted into SHIB, and sent to unspendable wallets. In other words, regular usage of the network removes SHIB from circulation.
According to Shibburn, SHIB’s daily burn rate jumped by a staggering 2,753.51% in the last 24 hours.
Over 6.4 million SHIB were destroyed in a single day, including two large transactions of 5.3 million and 1 million tokens. Weekly burns also climbed by 360.90%, with 135 million SHIB permanently removed from supply.
Earlier this week, a 100 million SHIB burn transaction was spotted – one of the largest this month!
It’s clear the SHIB burn engine is now running faster than ever. While users can still burn manually through SHIB’s public burn portal, the automated BONE-linked burns are becoming the real driver.
At the same time, SHIB’s chart is showing early signs of a breakout. After months of slow decline, the token has broken out of a descending wedge, a pattern often linked to trend reversals.
If the breakout holds, key resistance lies at $0.0000160. A move above that could open the door to $0.0000330, a level close to its previous cycle high.
Technical indicators like RSI and MACD have also turned bullish. According to market analysis, SHIB may now be in wave C of an A-B-C correction, which is a structure that often leads to a strong upward move.
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