BONE, Shiba Inu’s Governance Token, Approaches Important Milestone; SHIB Price Increases 5%

BONE, the ecosystem token for Shiba Inu, is about to surpass a new milestone as its holder count approaches the 50,000 round threshold. The number of BONE holders is currently 49,278, according to latest updates posted by the BONE Twitter account.

By surpassing the 1.2 million mark in the number of holders, the SHIB token recently achieved a completely new record-breaking milestone. The number of Shiba Inus owned as of right now is 1,205,039.

The ShibaSwap ecosystem’s governance token, BONE, has a maximum supply of 250,000,000 tokens and enables the Shiba Inu community to vote on upcoming proposals.

When was previously mentioned, the Shiba Inu team recently provided updates on the new BONE minting rate, stating that rather than completely suspending the process as it approaches the 230 million maximum, it seeks to lower the BPB (BONE Per Block) by changing the current minting rate to 1 BPB.

The community has earlier agreed to stop minting BONE at 230 million and set aside the remaining 20 million for Shibarium validator duties, keeping the maximum supply at the original cap of 250 million.

As of July 15, only 499,000 BONE need to be minted in order to reach the 230 million maximum, according to latest data.

Restaurant in Venezuela will accept SHIB payments

Shiba Inu, popularly known as “Shiba Food,” a restaurant in Venezuela, has said that it will also accept SHIB as a form of payment.

After partnering with Shiba Inu, the Italian fast-food business Welly underwent a complete rebranding at the beginning of February. To accept payments in Shiba Inu, Welly, Sorbillo, and other retailers have partnered with NOWPayments. Additionally, Welly stated that it would “actively engage” in the burning of Shiba Inus.

Shiba Inu currently owns the largest token position among the top 100 ETH whales, according to WhaleStats. SHIB was showing a gain in price at the time of writing after closing out the previous four trading days in the black. When this article was published, SHIB was trading up over 5% at $0.000011.