The Shiba Inu community is rallying behind Bone Shibaswap (BONE) through its collaboration with Binance Futures NEXT. This partnership highlights growing enthusiasm for Shiba Inu’s ecosystem tokens, with BONE receiving over 28,200 votes on the exchange platform. As traders anticipate a potential listing, the community’s engagement underscores optimism about the token’s future trajectory.
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Current Market Performance
Shiba Inu (SHIB)
- Price: $0.00003012
- 14-Day Growth: +137%
- 30-Day Growth: +241%
- Since March 2023: +195.3%
Bone Shibaswap (BONE)
- Price: $0.9038
- Weekly Growth: +2.5%
- 14-Day Growth: +41%
- Monthly Growth: +66.8%
- Since March 2023: -30%
The divergent performance between SHIB and BONE raises questions about their correlation and market dynamics.
Price Predictions and Technical Analysis
CoinCodex Forecast for BONE
- April 5, 2024: $2.79 (+170.87%)
- April 11, 2024: $3.47 (+236.89%)
Technical Indicators
| Token | RSI (1-Day) | MACD (1-Day) | Trend Outlook |
|---|---|---|---|
| SHIB | 65.30 (Near overbought) | Below signal line | Potential reversal |
| BONE | 50.99 (Neutral) | Below signal line | Short-term bullish, MACD bearish |
Key Factors Influencing BONE’s Trajectory
- Binance Listing Potential: Community-driven campaigns may accelerate adoption.
- Ecosystem Utility: BONE’s role in Shibaswap’s governance and transactions.
- Market Sentiment: Neutral RSI suggests room for growth if momentum builds.
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FAQ Section
Q: Why is BONE underperforming compared to SHIB?
A: BONE’s utility and adoption cycle differ from SHIB’s speculative trading volume.
Q: What would a Binance listing mean for BONE?
A: Increased liquidity, visibility, and potential price surges due to higher demand.
Q: Is BONE a good long-term investment?
A: Its governance role in Shibaswap could drive value, but monitor ecosystem developments.
Conclusion
While BONE shows promising short-term trends, its long-term success hinges on Shiba Inu’s ecosystem expansion and exchange support. Traders should watch RSI and MACD signals for entry points.