BONE Completely Dominates Other Memecoins, Up More Than 17% On Day

The launch of the Shiba Inu’s platform sparked a surge in transactions, raising scalability concerns for the developers. However, they swiftly responded by implementing the layer-2 component on their mainnet. Its leading figure, Shytoshi Kusama provided an update about operational optimization and how blocks had been produced under testing. This was followed by new exchange listings for their governance token – Bone ShibaSwap (BONE). Its price has seen a more than 10% increase in the last 24 hours, reaching a peak of $1.44, rescuing BONE from the general bearish attitude incurred among popular memecoins.

The current performance of the network is notable, boasting an average block timing of a mere 5 seconds, with transaction count surpassing 120,000 and wallet addresses close to 50,000. BONE’s market capitalization has grown to $318.6 million, edging ever closer to its trade Fibonacci retracement level of the 38.2%. A successful recovery could open doors for an outburst of positive prices, considering the Due to support around $1.24 zone alligns with the 50% Fibonacci level, aposite to its $1.44 peak.