Cheparium Bones re-tests key level TestNet hits 10 million conversions

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Puppynet scored a couple of milestones ahead of Shiparium’s mainnet launch.
The Bone ShibaSwap (BONE) signals on the chain turn into the gas token.
SHIB and BONE to retest major support lines as the consolidation closes.

shiba inu second layer solution Shiparium is currently in the testing phase, which aims to assess the current mechanisms of the ecosystem before a mainnet launch. Currently, over nine million transactions have taken place on the month-old network.

While these transactions were executed using test tokens only, it is important to note that the average blocking time for “dummy” Transactions are currently 7.2 seconds, which is faster than the ERC-20 token on the Ethereum (ETH) network.

the testnet $tBONE, a beta version of Bone ShibaSwap (BONE), is used to perform these transactions on the Layer 2 blockchain. While BONE is the official gas fee code for Cheparium, the Benefit from $BONE It will start as soon as mainnet is running.

The calm before the bone storm?

As the Unification xFund developers continue their complex and demanding work Shiparium Home Network, BONE is going through a gradual consolidation on the daily charts. The coin lost two consecutive long-term support lines on May 1 and May 9, 2023.

At time of publication, the #190 ranked altcoin BONE is trading at $0.765559, according to Queen Gekko. With a daily decline of 0.7%, the monthly perspective looks much worse for $BONE, with a decline of 22.3% in the last 30 days. However, this price range has caught up to Ethereum whalesAttention, which is also evident in the cues on the chain.

According to the blockchain analytics firm IntoTheBlockThree on the chain signals completely bearish. Network net growth, holders made profits, large transactions decreased significantly, while the concentration is the only neutral signal, indicating the sustained accumulation of significant holder positions.

However, BONE has posted triple gains since last year. In fact, the ongoing hype of Shibarium has given $BONE publicity and has resulted in several major cryptocurrency exchanges listing Shiba Inu alt tokens, including heavyweights such as Huobi and Crypto.com. On the other hand, $xFUND, the native token of Shibarium Unification developers, has gained 633.7% since last year.

on the flip side

Only 16% of the current Shiba Inu (Graying) owners benefit from this market price.
In contrast, 39% of Bone ShibaSwap (BONE) holders on Shibarium make a profit.