When I look at BONE, ranked at #137 per CoinGecko, with all this talk about Shibarium I’m wondering why no one is buying it. Right now if you’re just worried about price you’re betting on the upgrade to start burning a significant amount of the SHIB token for 1 cent and many of you are looking for that in the short term too. I don’t know if that’ll happen in the time frame people want. Then again when I bought DOGE as a joke in 2019 I was surprised when it exploded.
However. SHIB(and someone correct me if I’m wrong) is not the token used for the new protocol. For every transaction going forward after the upgrade BONE will be required and the more traffic on the network the more valuable BONE gets. That’s some real utility plus it’s a layer 2 solution for Ethereum. Although Polygon is definitely #1 in that department but I bet BONE will break into the top 100 consider how big the Shib Army is. That’s way more growth, and utility if I’m just speculating.
Meanwhile everyone else is betting on a burn for a token that’s has trillions in total/circulating supply. And we don’t even know what kind of impact the burn will have? However I would assume if tons of BONE is being used then the amount of SHIB burning grows(?).
Not financial advice.