• BONE is a governance token for the Shiba Inu ecosystem, which has seen a 43% surge in the past 30 days and is now trading at around $1.94.
• Gate.io cryptocurrency exchange recently listed BONE, with a market capitalization of around $449 million and an estimated potential to reach close to $3 by the end of March 2023.
• The success of Shiba Inu’s parent blockchain heavily influences the price of BONE due to its increasing demand and limited supply of 250,000,000 tokens.
The governance token for the Shiba Inu ecosystem, BONE, has seen a significant surge of over 43% in the past 30 days, reaching a trading value of around $1.94 on Friday. The upcoming launch of Shibarium, the layer 2 network for the Shiba Inu ecosystem, has brought more attention to the BONE token as it is set to be a utility coin. According to the latest market data, BONE has a market capitalization of around $449 million making it one of the top three meme coins by market cap.
Gate.io cryptocurrency exchange has recently listed BONE which already has about 10 million registered customers looking forward to Shibarium launch where users will be able to stake their BONE tokens as validators and earn passive income .
BONE Price Action & Predictions
As the success of Shiba Inu’s parent blockchain heavily influences the price of BONE,the token’s increasing market demand and limited supply of about 250,000,000 tokens suggest more potential gains in future . However ,the BONE price is retesting its last August’s all-time high ,which may result in correction before continuing rally . CoinCodex ,an on-chain analytics firm ,has updated its price prediction for bone estimating that token could reach close to $3 by end march 2023 .
With its increasing demand and limited supply ,BONES future looks promising with predictions estimating that it could reach close to $3 by end march 2023 .However investors should keep an eye on current all time highs as there may be some corrections before continuing rally .