U.Today - Shiba Inu's governance token , which is also the Layer 2 Shibarium gas token, had a significant move on July 7 after Shiba Inu's lead Shytoshi Kusama hinted at Shibarium's release heading toward the Blockchain futurist conference in Toronto this August.
BONE printed a massive green candlestick as it jumped from a low of $1.06 to reach a high of $1.31 on July 7. The rise advanced in the early hours of Saturday, with BONE reaching $1.39 at press time.
is currently up 19.64% in the last 24 hours to $1.32. The Shibarium token is up 42% in the last seven days. Bone has reentered the top 100 cryptocurrencies with a market capitalization of $306.3 million.
The Shibarium token has been on a steady rise since June 10 after bottoming out at $0.665. The move gained ground with BONE surpassing the key MA 200 barrier at $1.13, which had hindered its price advance since mid-March. In the process, BONE rose to near four-month highs.
Shiba Inu token LEASH on rise
Shiba Inu ecosystem token DogeKiller (LEASH) was also rising alongside BONE. LEASH saw a massive move on July 7, which culminated in highs of $343.The rise was sustained until press time, with LEASH up 10.57% in the last 24 hours to $333. The token is up 15.50% in the last seven days. In a July 6 tweet, Lucie urged the community to pay attention to LEASH as she shared a screenshot of Shiba Inu lead Shytoshi Kusama saying that LEASH having its governance was something big.
In a blog post during the week, Shytoshi Kusama gave an overview of how governance in the SHIB ecosystem would run. The core tokens in the SHIB ecosystem — SHIB, LEASH, BONE and TREAT — would have their governance.
According to , having its governance means that LEASH token holders, with a limited supply of 107,000 tokens, can actively participate in decision-making processes that shape LEASH's future.
Governance gives token holders the ability to exercise their voting rights and influence the governance parameters and policies of the token.