Bone Shibaswap Crypto Price Prediction - Can the BONE Price Reach $2?

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Over the past week, the Shiba Inu governance token, BONE, has showcased a bullish trajectory, experiencing a 7.11% surge to reach $1.64. With the continuation of this trend and the forthcoming launch of Shibarium, there is a strong possibility that BONE could attain the ambitious $2 mark.

Nevertheless, the cryptocurrency market is in a perpetual state of flux, as any experienced trader is well aware. Even in light of the current favorable indicators, it remains imperative to proceed with vigilance. This article furnishes insights into the foundational aspects and projected shifts in BONE’s price.

About Bone Shibaswap

BONE ShibaSwap serves as the governance token for the ShibaSwap decentralized exchange (DEX), offering voting capabilities. This empowers the Shiba Inu community, also referred to as the Shib Army, to partake in voting on forthcoming proposals, initiating new proposals, and gaining access to upcoming NFTs.

The influence of users’ votes grows with the accumulation of BONE tokens. BONE operates as an Ethereum-based token within the broader Shiba ecosystem, which encompasses tokens like Shiba Inu (SHIB) and Doge Killer (LEASH).

The inception of the ShibaSwap exchange occurred on July 7, 2021, enabling users of the platform to exchange their SHIB tokens for other cryptocurrencies. Positioned as a central link within this ecosystem, BONE is pivotal on ShibaSwap where SHIB holders provide liquidity, consequently earning BONE reward tokens.

Through token staking, users can secure rewards, the magnitude of which hinges on the quantity and duration of the staked tokens. The ShibaSwap team is actively constructing a metaverse platform that integrates the three tokens—SHIB, LEASH, and BONE—toward the realization of their vision for the “best Decentralized Ecosystem (DECO) on the planet.”

Serving as a governance token for ShibaSwap, BONE confers ownership rights for participating in governance activities, proposing future developmental plans, and casting votes within the decentralized autonomous organization (DAO) called Doggy.

On the platform, users can engage in actions such as DIG (providing liquidity as SSLP), BURY (staking SHIB, LEASH, BONE), SWAP ERC-20 tokens, earning returns termed WOOF (rewards), executing FETCH (transferring Uniswap V2 liquidity to ShibaSwap for additional BONE rewards), and utilizing BONEFOLIO (analytics tailored for ShibaSwap).

Notably, Shiba Inu ranks as the second most valuable memecoin according to market capitalization, currently amounting to $5.2 billion, having at one point reached a peak of $40 billion.

The comprehensive summary of the Bone Shibaswap price forecast can be found in the video provided above. For additional cryptocurrency price predictions, subscribe to his YouTube channel. Jacob Crypto Bury also manages a Discord community with 15,000 members.

BONE Price Prediction

As of today, August 8, Bone ShibaSwap price is $1.64 with a 24-hour trading volume of $5.30 million and market cap of$ 381.10 million. The BONE price increased 0.82% in the last 24 hours. Bone ShibaSwap reached its highest price on Jul 6, 2021 when it was trading at its all-time high of $15.50.

Based on technical analysis and current predictions for Bone ShibaSwap’s price movement, there is an expected decline of -7.33%, bringing the value of Bone ShibaSwap to approximately $1.53 by August 13, 2023.

Calculating from today’s classical pivot point (P1) at $1.64, Bone ShibaSwap’s support levels are positioned at $1.61, $1.56, with the strong support found at $1.53. Correspondingly, resistance levels for Bone ShibaSwap are identified at $1.69, $1.72, and $1.77.

Although a slight bearish sentiment currently pervades the crypto market, the long-term outlook remains bullish, potentially propelling BONE to reach $2.53 by 2024. The forthcoming horizon appears promising for BONE, particularly as the ShibaSwap ecosystem continues its expansion.

The highly anticipated launch of Shibarium holds the potential to provide the necessary impetus for BONE to establish itself as a strong contender within the cryptocurrency landscape.

Shibarium Trio Tokens Surge Amidst Mainnet Speculation

Over the past week, BONE’s price has surged by 7.11%. Functioning as the governance token for ShibaSwap, the DEX within the Shibarium framework, BONE also serves a purpose as a gas token to cover transfer fees on SHIB’s Shibarium Layer 2 blockchain.

Notably, the value of Doge Killer (LEASH), the third component of the Shibarium trio, has risen to $535 each, reflecting a modest 5.52% increase within the last 24 hours.

Although an official date for the Shibarium mainnet launch remains undisclosed, the community speculates that the Layer 2 blockchain’s introduction might align with the upcoming Blockchain Futurist Conference 2023, slated for August 15-16 in Toronto, Canada.

Hey #Shibarmy, exciting news ahead! 🚀
🌟 My gut feeling tells me that the Shiba Ecosystem is gearing up to kickstart the bull run! 🐕💨
Let’s stay positive and supportive during this #SummerofShibarium, and witness some incredible moments together! 🌞💫 $BONE $SHIB $LEASH… pic.twitter.com/CYQ7vo7cds
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 8, 2023

This conjecture arises from the presence of the project’s lead developer, Shytoshi Kusama, at the conference. During the past three days, the Shibarium testnet, known as “PuppyNet,” has remained inactive. This inactivity, coupled with the introduction of Shibarium validators on the mainnet, has ignited rumors suggesting an imminent launch early next week.

With validators transitioning to the mainnet, some community members hold the belief that the Shibarium mainnet launch is on the horizon. While this doesn’t definitively confirm a launch in the upcoming week, it does enhance the likelihood.

Meanwhile, Lucie, a representative from the Shiba Inu community, has confirmed that the mainnet launch of Shibarium is just a few days away. She adds that the Shiba Ecosystem community has a cause for celebration, as the ecosystem is on the brink of commencing its “kickstart the burn run”.