SHIB Vs BONK: Who Wins the Hype Battle?

 

Due to the enormous BONK rally, Solana was able to avoid losing the faith of the cryptocurrency community. Even the trade volume of competing meme coins like Shiba Inu (SHIB) and Dogecoin evaporated during the BONK rise (DOGE).

 

The Shiba Inu ecosystem has recently been in the spotlight because to the beta release of Shibarium, an increase in the burn rate, and a subsequent spike in token values.

Amid BONK Hype, Shiba Inu Drops Launch Hint for Shibarium

 

As the official Twitter account for Shiba Inu’s Layer-2 Shibarium blockchain, Shibarium Network has just tweeted the first message announcing the impending Shibarium Beta Network. They all retweeted the original post and agreed that the announcement was important for the Shiba Inu community.

 

Announcing the introduction of the Shibarium blockchain in early 2023 was crucial to gaining support from the Shiba Inu community, and the announcement was well received. The beta release of Shibarium was heavily foreshadowed by indications from SHIB core creator Shytoshi Kusama and the Shiba Inu community.

 

Also, the crypto community’s backing for Shiba Inu and the impending debut of Shibarium was overshadowed by the excitement over competing meme coin BONK. In a week, the Solana meme token BONK has increased in value by approximately 4352 percent, from a low of $0.00000009197.

 

The BONK has gained about 150% in value over the past day, and is now trading at $0.000004149. In addition, the trading volume has surged by more than a factor of ten in the past day. Because of this, the price of Solana (SOL) has risen to a new all-time high of $14.10 in the last day. CoinGape had predicted that the Solana price will encounter resistance at $15, and it did. The cryptocurrency then fell to a low of $13.

 

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SHIB and BONE Prices Rise

 

On January 5, the Shiba Inu burn tracker Shibburn tweeted that in the previous 24 hours, 113,660,903 SHIB tokens have been burned over only 7 separate transactions. In recent weeks, SHIB burn has skyrocketed as rumors of a Shibarium launch have spread widely.

 

Since BONE will be Shibarium’s exclusive gas token, its value has soared by roughly 20% in the past day. At this time, one BONE can be purchased for $1.08. The low for the past 24 hours is $0.912, and the high is $1.120.

 

During the same time period, the price of SHIB has increased by nearly 5% in the last day, trading at $0.0000085. In the past 24 hours, trading volume has surged by over 120%.