Shiba Inu Ecosystem Token Shows Enviable Growth Numbers in Listless Crypto Market
BONE, the main token of the decentralized platform ShibaSwap and part of the Shiba Inu Ecosystem, showed rampant growth of more than 110% in two days. The reason for this explosive behavior of the token was probably the flurry of news and speculation about OS list on large centralized crypto exchanges. First, Gate held a vote for listing BONE, then BlueBit officially announced the start of token trading.
The listing announcement, combined with the token’s low liquidity, likely got the audience so excited that the crowd started filling their BONE bags quickly. Perhaps it was not without the market makers, the invisible hands of the market, able to pull a certain number of green candles at the press of a button, especially on the asset, which was not distinguished by an excess transaction volumes.
Either way, BONE has broken off its all-time highs of 100%, and it’s unclear where its price discovery will end.
What’s next for BONE?
If data from CoinMarketCap is to be believed, BONE’s total supply is 230 million tokens, of which only 3%, 6.9 million BONE, are in circulation.
At $2 per BONE, set by recent events, the token’s capitalization is $14 million. Recall that the capitalization of BONE’s “big brother”, SHIB, is nearly 7 billion dollars.
Of course, the two tokens cannot be compared in size, given that SHIB plays the first fiddle in the Shiba Inu ecosystem. But given how useful BONE is now and how much use he could have after Shibarium launches, it will be extremely interesting to see if Junior can get some help from Senior.