Token from Shiba Inu ecosystem shows enviable growth figures on apathetic crypto market
Bone, the main token and part of the decentralized Shibaswap platform shiba inu ecosystem, showed a massive increase of over 110 percent in two days. The reason for such explosive behavior of the token was probably the wave of news and speculation. bone listing On large centralized crypto exchanges. First, Gate voted for Bone listing, and then Bluebit officially announced the launch of token trading.
The announcement of the listing, combined with the low liquidity of the token, probably excited the audience so much that the crowd began to rapidly fill up its BONE bags. Perhaps it was not without market makers, the invisible hands of the market, able to draw a number of green candles at the push of a button, especially on the asset, which was not distinguished by an excess of trading volumes.
Anyway, Bone has broken above 100% from its all-time high, and where its price quest will end is unknown.
What’s next for BONE?
If we believe CoinMarketCap data, the entire BONE supply is 230 million tokens, with only 3% of them, 6.9 million BONE, in circulation.
At $2 per bone, determined by recent events, the token has a capitalization of $14 million. Remember that Bone’s “Big Brother,” SHIB has a capitalization of about $7 billion.
Of course, the two tokens cannot be compared in size, given that SHIB plays first fiddle in the Shiba Inu ecosystem. But given BONE’s sufficient utility now and the use it may get after Shibarium launches, it will be extremely interesting to see if Junior can get some help from Senior.
