The ecosystem token for the Shiba Inu (SHIB) network, bone (BONE), has increased by almost 10% over the last day, making it one of the better gains in the otherwise lackluster cryptocurrency markets.In the early morning hours on Wednesday, BONE was traded for 90 cents.A total of $233 million has been invested in the tokens.
The fact that developers said the deployer contract for bone tokens was fully repudiated, increasing its security, is likely what helped traders’ sentiment.Over $3 million more worth of tokens were traded on Tuesday than on Monday.
Renouncing a smart contract in the crypto community means that the creator will no longer have control over it. This gives investors peace of mind because the contract can no longer be modified or updated, protecting them from any exploitation by the contract inventor.TREAT, LEASH, and BONE are the other two currencies that may be used to pay fees and cast votes on governance issues on the Shibarium blockchain, which was made available by Shiba developers in August. Activist investors have taken an instant liking to calcium (CAL), a phony coin created to renounce bone.Prior to falling 50% since Monday’s price apex, CAL’s market capitalization peaked at $10 million.