Shiba Inu ecosystem tokens BONE and LEASH are rallying alongside the rest of the crypto market.
At the time of writing, BONE was demonstrating a 10.81% rise in the last 24 hours to $0.82. LEASH was up 12.29% in the last 24 hours to $327, while Shiba Inu’s SHIB was up 7% in the same time frame to $0.00000772.
The price increases seen in the last 24 hours have triggered inflows into the market capitalization of Shiba Inu ecosystem tokens SHIB, BONE and LEASH.
$SHIB $BONE $LEASH $BAD pic.twitter.com/E4fCIOJNfB
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shibarium✨ (@LucieSHIB) October 24, 2023
On-chain data also suggests inflows as meme coins return to traders’ minds as a result of the altcoin breakout.
According to IntoTheBlock data, large holders’ inflows for BONE have seen a 232% rise in the last 24 hours. Large Holders Inflow tracks the funds flowing into addresses belonging to large holders, or whales, and may indicate heavy buying activity.
$BONE push keep pushing pic.twitter.com/8Ow0u0s5Bn
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shibarium✨ (@LucieSHIB) October 24, 2023
This is because many of these addresses purchase on centralized exchanges and subsequently transfer their purchases to cold storage.
Meanwhile, Shiba Inu lead Shytoshi Kusama has come out of quiet mode, bringing thrilling news to the Shiba Inu community. Kusama compliments the Shiba Inu community’s collaborative efforts in a recent tweet, noting that the best part is that the Shiba Inu community is just getting started.
Shibarium, the recently launched Layer-2 solution for the Shiba Inu ecosystem, has gained significant traction in the past two months since its release.
In a new tweet, Australian-based crypto exchange GroveX expressed excitement about integrating Shibarium into its platform. GroveX says it will be exploring Shibarium projects to make them available on its platform as it progresses.
