The Shiba Inu ecosystem enjoys rapid growth. And that has seen increasing investor participation. Hence, to build a sustainable atmosphere for the impending Layer2 network Shibarium, the SHIB community voted to decrease mining rewards.
Shiba Inu is Going BONE Dry
The vote favored the DOGGY DAO: BONE Farms. That meant adjusting the BONE mining rate to 1 BONE PB (Per Block) only. Shiba Inu said the move was to avoid over-minting BONE tokens.
Making the process sustainable was crucial as Shibarium will need 20M BONE coins’ security to operate the Layer2. Moreover, on-chain validators will receive BONE rewards for transaction verifications.
The announcement added that the adjustment would enable continued ShibaSwap rewards while waiting for the coming TREAT reward token, which will join the ecosystem soon.
While Shiba Inu changing its dynamics could trigger criticism from investors, the blockchain will enjoy benefits in the long run. Interestingly, SHIB took its initial step towards building the ecosystem’s plausible future.
Nevertheless, the same will not affect the network or SHIB as the rest of the platform will maintain normal operations. From an investors’ standpoint, SHIB and its network are improving with each passing day.
Shiba Inu’s rally earlier in the week saw it flipping the 50-day SMA into support. This level served as a resistance zone for nearly two months.
Shiba Inu will have to maintain this level in the coming sessions. That would see it targeting a flip of the 100-day Simple Moving Average into support. Such a move will likely avoid possible drastic plummets on the price charts.
While publishing this content, the meme coin traded near $0.00001097 and seemed ready to recover losses acquired in June.
Moreover, the asset has seen an increase in how Shiba Inu changes hands within addresses. That signals activated investor mood and will hopefully persist this time. That would ensure consistent network growth.
Meanwhile, the overall crypto market witnessed surges overnight. Bitcoin climbed beyond the sought-after $22K, changing hands at $22,179.4 during this publication.
That triggered healthy reactions in the altcoin market, with ETH hiking to $1,452.6. Maintaining such movements would encourage Shiba Inu investors.
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