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The Shibarium layer-2 solution finally launched, bringing uncertainty to the Shiba Inu (SHIB) community.
Many are concerned that the rollout could end SHIB, as crypto enthusiasts might abandon it for Bone ShibaSwap (BONE).
#Bone
Earth if Come #Shibarium. . . 🧐$Bone Price Will Be =(∞) pic.twitter.com/wPXlMm2tlG— Bone ShibaSwap (@BoneShiba) August 16, 2023
The new development is overall a good event for everyone. Shibarium could and should boost the ecosystem, enabling faster and cheaper transactions. This could lead to greater levels of adoption.
Especially since Shiba Inu’s gas fees have long been considered too high, limiting its potential. However, Shibarium uses the BONE token, which plays the role of its governance token. It is also used for paying fees.
However, if BONE takes the spotlight, SHIB could be pushed aside and forgotten. At least, that is what its community fears.
How did the two tokens perform?
Shib has already seen a price drop from $0.0000106 to $0.0000097 in the last 24 hours. During the same period, BONE went from $1.25 to $1.63.
Every week, both tokens have been trading in the red. However, BONE lost 11% last week, while SHIB was only down 1% during the same period.
The two tokens are also vastly different in market cap, with SHIB having a m.cap of $5.6 billion, while BONE barely has 330 million. With that said, SHIB is seeing a $455 million trade volume, up by 83% in the last 24 hours.
Meanwhile, BONE has seen a 167% increase in its trading volume, currently at $31.6 million. In other words, BONE has a long way to go before it overtakes SHIB in anything but performance.
In all fairness, both tokens are crucial in the ecosystem, and the team treats them as such. However, whether the ecosystem can maintain its balance is unclear if they become thriving assets.
One could win, leaving the other one behind. SHIB would have to increase its position as the core token and the center of the ecosystem to avoid becoming irrelevant.
Meanwhile, BONE is rapidly gaining attention, which will likely continue in months to come. Both tokens have essential use cases now, even though SHIB was initially created without any.
Still, the project avoided becoming irrelevant to competitors in the past because it was able to be innovative and adaptable. Now, it will be tested again, this time by a competitor from its household.
Will both SHIB and BONE lose to YPRED?
While SHIB fights to remain relevant and BONE seeks growth and acknowledgment, both tokens might have a severe competitor in YPRED.
This is a token of a project called yPredict — an all-in-one AI ecosystem built for developers, traders, and analysts.
The project can offer advanced signals, fundamental and technical analysis, chart pattern recognition, and more, all exact and created by artificial intelligence.
The project has seen massive popularity since the launch of its presale, and it has already raised over $3.47 million within days. Its price right now is $0.1 during the presale.
However, its listing price will be $0.12, so it is still more than worth buying it. This can be done with BNB, USDT, ETH, MATIC, or credit card.
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