Shiba Inu Developer Renounces BONE Governance Token
Kaal Dhairya, the developer of Shiba Inu (SHIB), has announced the renouncing of the ShibaSwap governance token BONE. This move is expected to have a positive impact on the prices of both SHIB and BONE.
BONE Deployer Renounced
Dhairya confirmed that the renounceOwnership function was successfully completed on September 26, 2023, at block 18222509. The transaction was carried out from the Shiba Inu deployer address to the Shiba Inu Migrator address. This renouncing enhances the security of BONE against future manipulations and ensures its full decentralization.
Dhairya shared the announcement on Twitter, stating that they will continue building decentralized systems for the community’s benefit.
The renouncing of BONE also marks the end of BONE rewards on ShibaSwap.
Potential Upside for SHIB Price
Additionally, Shibarium transactions have surpassed 3 million, indicating growing activity on the Ethereum layer-2 Shiba Inu blockchain mainnet launched in August 2023. Currently, SHIB price is in a crucial zone, with a downtrend below $0.0000072 potentially leading to a correction in the $0.000006 range. On the other hand, breaching $0.0000075 could trigger a jump to $0.000008.
Hot Take: Positive Momentum Expected for SHIB and BONE
The renouncing of the BONE governance token by Shiba Inu developer Kaal Dhairya is likely to generate positive momentum for both SHIB and BONE prices. With improved security against manipulations and full decentralization, BONE is set to gain more trust from the crypto community. Additionally, the milestone of 3 million Shibarium transactions indicates increasing activity on the Shiba Inu blockchain mainnet. As SHIB price hovers in a crucial zone, breaching key resistance levels could lead to further upside potential. Overall, these developments suggest a bright future for both SHIB and BONE.
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