Shiba Inu (SHIB) ecosystem token Shibaswap Bone (BONE) never stops. It has increased by 90 percent in the last 24 hours, crossing the 2 dollar limit. Bone ShibaSwap (BONE) seems to be immune to the widespread bear market as it climbs above $2. Its $2 value marks a 9-month high for the token as it has remained below the level since November 2021. Here are the details…
SHIB ecosystem token rally
Currently, BONE has gained 90 percent in the last 24 hours, with trading volume up 385 percent, according to CoinMarketCap data. It has made it one of the highest earning assets in the markets. The asset has shown impressive resilience to the bears as market dips since August 20 have had little effect on price movements. The current value of $2.1 represents a 166 percent increase from the price of $0.75, which the asset closed on August 20. Since dropping to $0.75, BONE has had an unhindered rally despite the cold hands of winter.
This bullish move comes 24 hours after Saint Vincent and the Grenadines-based crypto exchange Bluebit.io listed the asset. This development pushed BONE above the $1.5 level. Also, as we reported on Kriptokoin.com, a few days ago, Singapore-based exchange MEXC Global collected around 11.63 million BONE tokens. It took over the position of the third-largest owner of the asset. These promising moves have undoubtedly contributed to the asset’s recent rally. With an increase of over 87 percent in less than two days, BONE showed its resilience to negative macros. The asset, which is trading at $2.1 at the time of writing, shows no signs of slowing down.
What’s next?
The announcement of the listing, along with the low liquidity of the token, excited the investors. Investors began to quickly stuff their BONEs into their bags. BONE has left its historic highs by 100 percent and it is not known where the price discovery will end. According to CoinMarketCap data, the entire BONE supply is 230 million tokens. Only 3 percent of these, or 6.9 million, are in circulation. The market value of the token, which is $2 per BONE, determined by recent events, is $14 million.
It’s worth noting that BONE’s “big brother” SHIB has a market cap of almost $7 billion. Of course, the two tokens cannot be compared in size, given that SHIB is the first token in the Shiba Inu ecosystem. However, it is worth noting that positive movements are expected for BONE, given the adequate use case of BONE at the moment and the usage that Shibarium can achieve after its launch.
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