Bone Shibaswap BONE/USD is up 6% in the last 24 hours, outperforming the top 5 meme coins by market cap.

What happened: At the time of writing, BONE was trading at a high of $1.97 and on track to break through the $2 mark.

Elon Musk’s favorite meme crypto Dogecoins DOGE/USD down 1.78% to trade at $0.084. Shiba Inu SHIB/USD exchanged hands at $0.00001309, down 2.47% Flokis FLOKI/USD The rally cooled off with a 6.13% drop and it is currently trading at $0.00001309.

See more: Top Indian Apps Giving Bitcoin, NFT Rewards

Why it moves: The rise of BONE can be attributed to two reasons. First, the much-anticipated Layer 2 blockchain Shibarium, which is speculated to launch next week.

Shytoshi Kusama, the pseudonymous developer of Shibarium, confirmed the launch on the Telegram channel.

Second, BONE said in a tweet on Thursday that the token will now be listed on Gate.io. The listing announcement also caught the attention of investors.

According to burn tracker Shibburn, the speed at which SHIB meme tokens have been transferred into dead-end wallets has increased by over 708% in the last 24 hours. The SHIB Army burned a total of 7,244,258 Shiba Inu.

continue reading: Bitcoin, Ethereum, Dogecoin Mixed With Fed Fears: Analyst Believes Risk Aversion Could Revive Wall Street Apex Crypto