All three tokens created to be used on Shibarium and SHIB ecosystem have now been launched on this Australian exchange
BONE and LEASH were added by the exchange last week to trade against USDT and BUSD stablecoins.
In the comment thread, the SHIB community responded eagerly, glad of the positive news from GroveX. Aside from the Shibarium trifecta, the platform has recently also added support for PEPE meme coin.
Still, the price performance put up by these meme coins is not bullish at the moment. BONE is down more than 13%, SHIB is trading at a 5% discount compared to Sunday. As for Doge Killer (LEASH), it is 3.64% down over the past 24 hours too. Over the weekend until now, Shiba Inu has lost more than 8% of its value, dropping to the $0.00000706 level at the time of this writing. Today’s price decline alone constituted 5.08%.
BONE performs the function of a gas token on Shibarium and helps burn SHIB, LEASH allows users to earn rewards in return for staking on the ShibaSwap dex – the official decentralized exchange of Shibarium.
SHIB price plummets but there is a catch
Still, as reported by U.Today earlier, even despite SHIB’s current price drop, its NVT (Network Value to Transactions), a key metric that helps to estimate a cryptocurrency’s health, is on the rise. When NVT is going up, it signals that the value of the network is growing relative to its transaction volume.
Besides, the concentration of whales for SHIB now equals 77% and they are likely prepared to hold long-term.