The decision to abandon the smart contract is expected to attract more investors to BONE in the future.
In a post made on September 26th, Kaal Dhairya, a developer of Shiba Inu, officially announced the abandonment of the ShibaSwap BONE governance token. This action implies that the smart contract creator is relinquishing control over the token.
“The deed is done; BONE is now officially abandoned via the TopDog contract. We will continue building decentralized, permissionless systems for the benefit of the community.”
This action will take place at block 18222509, from the Shiba Inu deployer ShibaSwap.eth to the Migrator address. Therefore, the abandonment will protect BONE from future constraints and make the contract entirely decentralized.
Additionally, Shiba Inu’s Marketing Strategist, Lucie Shib, confirmed the abandonment of BONE by posting a screenshot of the operation, demonstrating that this abandonment could result in the proper classification and full protection of BONE.
Before this information surfaced, SHIB had found support at $0.0000072 after a period of decline over the past few weeks. However, bearish pressure at the $0.0000073 resistance level continued to push the asset lower.
Based on signals, SHIB may experience short-term retreat before transitioning to an upward trend in the coming weeks. Similarly, BONE saw an uptick on the daily chart following the announcement on September 26th.
Furthermore, the RSI indicator displays a value of 46, rising from neutral territory and attempting to enter the buying zone. If the RSI rises above 50, it could serve as a buy signal for new positions.
BONE may see an increase above the $0.9 resistance level in the coming days after finding support at $0.89.