{"id":500488,"date":"2022-08-30T17:00:35","date_gmt":"2022-08-30T17:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=500488"},"modified":"2024-06-11T07:52:21","modified_gmt":"2024-06-11T07:52:21","slug":"why-is-shiba-inus-bone-on-the-rise-and-is-it-time-to-get-in","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/why-is-shiba-inus-bone-on-the-rise-and-is-it-time-to-get-in\/","title":{"rendered":"Why Is Shiba Inu\u2019s $BONE On The Rise And Is It Time To Get In?"},"content":{"rendered":"

Meme coin Shiba Inu has been able to properly leverage its popularity and build out another token, BONE, that is catching the eye of investors. $BONE is the native token of the Shiba Inu decentralized exchange, ShibSwap. Now, like any decentralized exchange, putting the native token to work by using it for swaps gives it utility, which has driven the price of BONE upwards. But now, the digital asset is on the move once more.<\/p>\n

BONE Exchange Listings Trigger Rise<\/h2>\n

Just like Shiba Inu in its time, BONE is receiving a lot of support from the community during this time. Exchanges have moved to list the digital asset on their platform, and as expected, these have triggered a pump in the price of the cryptocurrency.\u00a0<\/span><\/p>\n

Related Reading: New Report Says Bitcoin Daily Trading Volumes Are Fake, So What\u2019s The Real Number?<\/a><\/strong><\/em><\/div>\n

The first catalyst for the upward movement had been the Gate.io vote that included BONE. Sometimes, exchanges will hold voting competitions for different digital assets, and the ones with the most votes are usually listed on the exchange. The prospect of BONE being listed on Gate alone has set it on an upward trajectory.<\/p>\n

\"Shiba<\/p>\n

Then came the official listing on another crypto exchange called BlueBit. With both of these news driving more interest into the token, the price had surged more than 110% in the span of 48 hours. In just the last 24 hours alone, it has grown 83.22% to its current price of $2.10.<\/p>\n

Is It Time To Get In?<\/h2>\n

Cryptocurrencies, such as BONE, are seen as high-risk plays due to their movement relying solely on the hype created in the community, and if this hype happens to die down, the price crash is rapid and leaves a lot of casualties.<\/p>\n

However, they have also been known to rally beyond anyone\u2019s expectations, bringing large profits for investors. One thing, though, is to get in as early as possible before it is mainstream. For example, only about 3% of the total supply of BONE is currently in circulation. As time goes on, it is expected that more to the supply will be released into circulation, and it will definitely have an impact on the price of the digital asset.<\/p>\n

Related Reading: Macro Hold Tightens As Losses Spill Over To Crypto Market<\/a><\/strong><\/em><\/div>\n

It is always important to keep in mind that meme coins are incredibly risky plays, and while there is a lot of potential for growth, there is also potential for gains to be wiped out quickly. As long as interest remains high, there will likely be more growth to come before a correction.<\/p>\n

The total trading volume for BONE in the last 24 hours is $72.8 million, up more than 400%. This can usually indicate that a coin is reaching the peak of its hype and a reversal is on the way.<\/p>\n

Featured image from Watcher Guru, chart from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
Meme coin Shiba Inu has been able to properly leverage its popularity and build out another token, BONE, that is catching the eye of investors. $BONE is the native token of the Shiba Inu decentralized exchange, ShibSwap. Now, like any decentralized exchange, putting the native token to work by using it for swaps gives it utility, which has driven the price of BONE upwards. But now, the digital asset is on the move once more. BONE Exchange Listings Trigger Rise Just like Shiba Inu in its time, BONE is receiving a lot of support from the community during this time. Exchanges have moved to list the digital asset on their platform, and as expected, these have triggered a pump in the price of the cryptocurrency.\u00a0 Related Reading: New Report Says Bitcoin Daily Trading Volumes Are Fake, So What\u2019s The Real Number? The first catalyst for the upward movement had been the Gate.io vote that included BONE. Sometimes, exchanges will hold voting competitions for different digital assets, and the ones with the most votes are usually listed on the exchange. The prospect of BONE being listed on Gate alone has set it on an upward trajectory. Then came the official listing on another crypto exchange called BlueBit. With both of these news driving more interest into the token, the price had surged more than 110% in the span of 48 hours. In just the last 24 hours alone, it has grown 83.22% to its current price of $2.10. Is It Time To Get In? Cryptocurrencies, such as BONE, are seen as high-risk plays due to their movement relying solely on the hype created in the community, and if this hype happens to die down, the price crash is rapid and leaves a lot of casualties. However, they have also been known to rally beyond anyone\u2019s expectations, bringing large profits for investors. One thing, though, is to get in as early as possible before it is mainstream. For example, only about 3% of the total supply of BONE is currently in circulation. As time goes on, it is expected that more to the supply will be released into circulation, and it will definitely have an impact on the price of the digital asset. Related Reading: Macro Hold Tightens As Losses Spill Over To Crypto Market It is always important to keep in mind that meme coins are incredibly risky plays, and while there is a lot of potential for growth, there is also potential for gains to be wiped out quickly. As long as interest remains high, there will likely be more growth to come before a correction. The total trading volume for BONE in the last 24 hours is $72.8 million, up more than 400%. This can usually indicate that a coin is reaching the peak of its hype and a reversal is on the way. Featured image from Watcher Guru, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":500491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[86713,86715,83668,83667,86714],"class_list":["post-500488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-bone","tag-bone-price","tag-shib","tag-shiba-inu","tag-shiba-inu-bone"],"acf":[],"yoast_head":"\nWhy Is Shiba Inu\u2019s $BONE On The Rise And Is It Time To Get In?<\/title>\n<meta name=\"description\" content=\"Meme coin Shiba Inu has been able to properly leverage its popularity and build out another token, BONE, that is catching the eye of investors. $BONE is\" \/>\n<meta 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. 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