Bone ShibaSwap Soars Over 200% After Listing On BlueBit

Bone ShibaSwap (BONE) has been rising briskly since Aug 19. With a peak of $2.1 on Aug 30 following the announcement of listing on BlueBit.

Bone ShibaSwap Soars Over 200% After Listing On BlueBit 4

As the governance token of the ShibaSwap ecosystem, BONE allows holders to vote on proposals, with the weight of votes proportional to their coin holdings.

Since the beginning of the year, the price has struggled to break above the $1.2 horizontal resistance area. During this time, it made three unsuccessful breakouts.

However, the price started a rapid rally on August 19 and successfully attempted a breakout on August 29. During this rally, BONE rallied 200% in 10 days and continued to rise on the 11th. The increase in the upward movement over the past two days coincided with the listing of BONE on the BlueBit exchange.

BONE price chart. Source: CoinCu

Trader @mindandtrading tweeted a BONE chart showing the price has hit $2. He thinks the next resistance will be at $2.6.

The Shiba Inu ecosystem has also recently received many positive signals when the SHIB price stabilizes, thanks to the project’s burning mechanism and the community’s trust.

SHIB daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.