In one of his recent updates on social media, famous developer Shytoshi Kusama divulged about the high anticipation around Shibarium, a layer-2 blockchain. He indicated that its launch is projected to be post a conference in Toronto in August this year. This significant pronouncement further led to a substantial escalation in the trading price of Bone ShibaSwap (BONE). According to the trusted digital currency stats provided by CoinMarketCap, BONE experienced a surge of over 22% within a span of 24 hours after the announcement.
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BONE Performance Statistics
As of the last press release, BONE had an impressive trading session and was valued at approximately $1.35. In addition, the crypto has recorded an astounding gain of over 40% during the past week. Furthermore, the meme coin displayed a favorable monthly performance with an increase of more than 71%.
- 24-hour Trading Volume: The trading volume of BONE surged by 50% within the span of the previous day, resulting in a volume of around $17,818,519.
- All-time High: BONE reached its zenith in September 2021 with a price of $41.67. However, since then, the price has plummeted by over 96% and is currently trading at its existing price.
Shibarium Blockchain and Other Meme Coins
The upcoming Shibarium blockchain is expected to make use of tokens like BONE, Shiba Inu (SHIB), and Doge Killer (LEASH). Given the price surge of BONE post the announcement, it wouldn’t be irrational to anticipate a similar effect on other meme coins in the near future.
As of the last update:
- SHIB was also experiencing a favourable trade off in the green zone with a price of $0.000007347 following a gain of 1.41%.
- LEASH was trading at a price of $345.40 after witnessing a price surge of over 13% within the last 24 hours. Moreover, in comparison to the Dollar, Bitcoin (BTC) and Ethereum (ETH), LEASH showed better performance by 13.08% and 13.34%, respectively.
Daily chart for BONE/USDT (Source: TradingView)
BONE was successful in breaking past the resistance level at $1.1632, which it then converted into support. During the past 24 hours, BONE made an attempt to rise above the next substantial barrier at $1.4302 and managed to escalate beyond this crucial price point, reaching a high of $1.4800. A short regression occurred later, but it continued trading above the resistance level at press time.
- Potential Outcomes: If BONE succeeds in closing at a price above $1.4302 for today’s daily candle, then in the upcoming days, it might venture to reach the $1.6008 mark. Alternatively, if it closes below the current price point, BONE might have to rectify down to the earlier resistance level of $1.1632.
Disclaimer:The information in this price analysis is shared in good faith for informational purposes only. Readers are advised to perform their own research and exercise caution. Any action taken based upon this information is entirely at the reader’s discretion. Coin Edition and its associates will not be responsible for any direct, indirect, or consequential loss or damage incurred due to reliance on this information.