- The Crypto.com platform listed Bone ShibaSwap (BONE) in March 2023.
- Shibarium’s BONE reaches an important milestone in total wallets.
- Shiba Inu to examine key resistance levels after market correction.
The meteoric rise of memecoins continues in full swing, with popular dog-themed tokens rising to the top on Crypto Twitter. Dogecoin, Shiba Inu, Floki, and Baby Doge Coin are all trending. At the same time, the DOGE mascot is still Twitter’s visual centerpiece. Furthermore, the quickly growing Shiba Inu (SHIB) community is patiently waiting for the mainnet of Shibarium, the Layer-2 scaling solution, and there’s more great news on the way.
Today, the fourth largest American crypto platform Crypto.com became the first major crypto exchange to host the BONE/SHIB trading pair. Both cryptocurrencies are in the SHIB Ecosystem and Bone ShibaSwap (BONE) is essentially the gas fee token of Shiba Inu’s Layer-2.
Bulls vs. Bears: Who’s Going to Take the Upper Hand?
The current daily charts suggest a crossroad for Shiba Inu, as the upper zone levels of the symmetrical triangle successfully broke out at $0.000011. However, after a brief period of market correction that decreased its value by 3%, SHIB is trading exactly at the aforementioned price.
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On the other hand, the #166 ranked altcoin Bone ShibaSwap (BONE) is hovering above the multi-week support level of $1. Shiba Inu’s BONE had been trading inside the protracted descent for the better part of last month, dropping by an eye-watering 29.3% in the last 30 days.
At press time, Shibarium’s governance and gas fee token is priced at $1.09, according to CoinGecko. While the on-chain signals are entirely bearish, according to IntoTheBlock, $BONE has reached a very impressive milestone concerning consistency. Bone ShibaSwap now has 82,052 holders on Ethereum (ETH).
As both SHIB and BONE regularly see further adoption, $BONE might grow along with Shibarium’s development. Still, the next strong resistance at $1.19 will determine if the limited supply governance token can reach its all-time high of $15.50 recorded over a year ago.
On The Flipside
- Bone ShibaSwap (BONE) has a clear max supply of 250,000,000 and thus is likely to be in high demand when Shibarium’s mainnet launches.
- At current prices, just 33% of Shiba Inu (SHIB) holders are making a profit, while 52% of BONE holders are ‘In The Money,’ according to IntoTheBlock.
Why You Should Care
Shiba Inu is an ERC-20 token on the Ethereum (ETH) network transitioning into a self-sufficient ecosystem via the Shibarium Layer-2 upgrade.
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