Shiba Inu\'s BONE Starts Erasing Losses, Reclaims $1.30: What\'s Next?

Shiba Inu\'s BONE token, the gas token of Shibarium, is showing signs of resilience. Earlier at the moment, BONE dropped beneath its EMAs, creating a brand new native low of round $1.08. Nonetheless, it managed to erase its losses, re-claim its 200, signaling a potential shift in momentum.

While Shiba Inu coin price dwindled by 8.5% despite the considerable growth on Shibarium L2, BONE\'s recent recovery is noteworthy. This contrasting performance has crypto connoisseurs observing closely, especially considering the recent "renouncing" of the BONE contract. This process denotes that the contract owner has relinquished control, potentially increasing decentralization and security.

The Shibarium bridge withdrawal times are a known factor. It is by design that the Shib, Leash, WEth withdrawls through the bridge take at least 2 Checkpoints (45 Minutes to 3 hours), and BONE withdrawl will take up to 7 days. This longer timeframe is important to consider when assessing price movements.

Despite the positive developments on Shibarium, Shiba Inu coin price struggles escalate with a drop below $0. Whales are reportedly prepping a return, but tables could turn at the White House crypto summit. The outcome of such events can significantly impact the broader crypto market and, consequently, Shiba Inu and its associated tokens.

Recent whale activity has also been noted. Shiba Inu (SHIB) and Bone shibaSwap (BONE) price might witness a drop after a Smart Money wallet has moved 182 billion SHIB tokens. This large transfer is something traders should monitor closely.

Shiba Inu (SHIB), the second most popular meme coin, continues to evolve with its ecosystem. BONE\'s ability to reclaim the $1.30 level after facing significant selling pressure suggests underlying strength. Whether this recovery can be sustained remains to be seen, but it offers a glimmer of hope for Shiba Inu and Shibarium\'s future.