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- SHIB’s surge contrasts BONE’s lag, questioning ecosystem token performance.
- BONE price has increased moderately in recent periods but remains down compared to March 2023.
The Shiba Inu community is mobilizing to bolster Bone Shibaswap’s prospects through engagement with Binance Futures NEXT. This milestone signals a surge of enthusiasm for the Shiba Inu (SHIB) team’s Bone token, with nearly 28,200 picks garnered on the leading crypto exchange’s platform. As users eagerly anticipate potential listings, their engagement underscores the community’s fervent support and optimism for the project’s future trajectory.
Presently trading at $0.00003012, the trend shows the incredible growth of SHIB, with an increase of over 137% in the 14-day chart and a whopping 241% over the past month. This bullish momentum has propelled SHIB’s price by 195.3% since March 2023.
However, the story is somewhat different for Bone ShibaSwap (BONE), the offspring token of SHIB. Despite modest gains of 2.5% in the weekly charts, 41% in the 14-day charts, and 66.8% in the monthly charts, BONE’s price has remained down by nearly 30% since March 2023, with the current price hovering at $0.9038. This disparity raises questions about the divergence in performance between SHIB and its associated tokens.
According to CoinCodex forecasts, there is optimism regarding BONE’s future trajectory. Forecasts indicate a potential upsurge in BONE prices, with estimates showing the cost to reach $2.79 by April 5, 2024, equivalent to an increase of around 170.87% from the current levels. Moreover, with the projection for BONE reaching $3.47 on April 11, 2024, this marks a notable increase of about 236.89% compared to the current price.
SHIB/USD 1-Day price chart
Analyzing the technical indicators, the 1-Day RSI for Shiba Inu stands at 65.30, indicating a potential approach towards overbought conditions. Additionally, the 1-day MACD trading below the signal line suggests a looming possibility of a reversal or correction in SHIB’s price in the near future.
BONE/USD 1-Day price chart
On the other hand, BONE’s 1-day RSI sits at 50.99, reflecting a neutral position, neither overbought nor oversold. The 1-day KST indicates a positive short-term trend, with the KST rising above zero. However, the 1-day MACD trading below the signal line presents a bearish signal for BONE, as the MACD remains below the signal line.
The post Shiba Inu’s BONE on the Rise: Will Binance Listing Propel Prices Even Higher? appeared first on Coin Edition.