Bone ShibaSwap (BONE), the governance token of the Shibaswap ecosystem spiked nearly 12% on Tuesday night to emerge as the top 24-hour cryptocurrency gainer beating the likes of Bitcoin BTC/USD, Ethereum ETH/USDand bellwether meme coin Dogecoin DOGE/USD.

What Happened: Shiba Inu (SHIB), Doge Killer (LEASH), and BONE are all tokens associated with the SHIB ecosystem.

BONE’s recent ascent has been buoyed by the announcement of the beta launch of the long-awaited Layer 2 blockchain solution dubbed Shibarium by the project.

The beta will be launched this week, according to the official Twitter handle associated with SHIB.

Price Action: BONE was up 11.4% at $1.72 at the time of writing, as per CoinMarketCap data.