Shiba Inu’s governance token BONE, which also serves as the Layer 2 Shibarium gas token, has experienced a steady rise in value since June 10.

The token’s price has doubled, achieving 100% gains and reaching highs of $1.16. In the last 24 hours, BONE gained further momentum following key announcements made by Shiba Inu lead Shytoshi Kusama.

BONE’s Impressive Performance Amid Market Sell-off: Despite the recent market sell-off and the crypto market being in the red, BONE has continued to outperform other dog-themed tokens.

At the time of writing, BONE was up 8.99% in the last 24 hours, trading at $1.14. The token has also seen significant weekly gains of over 25%.

Shibarium Launch Date Announcement: Shytoshi Kusama made an exciting announcement regarding the mainnet launch of Shibarium, the highly anticipated Layer 2 blockchain, in a recent blog post. Shibarium will utilize BONE as its gas token.

Kusama hinted at discussions and the potential release of Shibarium at the Blockchain Futurist Conference, scheduled for August in Toronto. The impressive activity on the Shibarium testnet, known as Puppynet, suggests a strong demand for the network.

https://optimisus.com/news/crypto-news/bone-token-surges-as-shiba-inu-unveils-shibarium-launch-date-and-defines-governance-role/