Shiba Inu BONE Increases 130% in 2 Days Due to These Events

BONE, the main cryptocurrency of the decentralized ShibaSwap platform and a component of the Shiba Inu ecosystem, increased 110% in two days. The explanation for the token’s extraordinary performance was most likely the rush of news and speculation of BONE listing on large centralized crypto exchanges. BlueBit has declared the start of token trading after Gate held a vote for BONE listing.

The announcement of the listing, paired with the token’s low liquidity, most likely enthralled the audience to the point that they began swiftly filling up their BONE bags. Perhaps it wasn’t without market makers, the market’s invisible hands, able to draw a slew of green candles at the push of a button, especially on the asset that didn’t have a lot of trading volume.

In any case, BONE has broken away from its previous highs by 100%, and it is unclear where its price discovery will conclude.

What is the future of BONE?

According to CoinMarketCap, the total BONE supply is 230 million tokens, with just 3%, or 6.9 million BONE, in circulation.

The token’s capitalization is $14 million at $2 per BONE, as determined by recent events. Remember that BONE’s “big brother,” SHIB, is worth about $7 billion.

Of course, the two coins cannot be compared in terms of size, as SHIB is the first in the Shiba Inu ecosystem. But, considering BONE’s current utility and the potential use it will have after Shibarium is released, it will be quite fascinating to see whether Junior can get any assistance from Senior.