Shiba Inu ecosystem token BONE has surged 10% in the past 24 hours as the team announces a major upgrade to its security. According to data from Coinmarketcap, BONE rose to over $0.9 on September 26.
Bone has recorded the sudden spike in price following an announcement from the developer. Kaal Dhairya, a core developer from the Shiba Inu team, shared a post on X (Twitter) citing that the BONE token is now renounced via the TopDog contract.
While the smart contract is renounced, the contract creator loses access to it; hence, the contract can no longer be altered. This gives users a sense of security as the contract becomes independent and cannot be updated under any circumstances.
BONE is one of the three utility tokens (BONE, TREAT, and LEASH) on Shibarium, a layer 2 blockchain developed by the Shiba Inu team.
In August, Shibarium faced massive network congestion hours after its public mainnet launch, while the developer team re-launched Shibarium network a week later, improving its capabilities.