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- In the last 24 hours, the trading price of BONE crypto has declined by 3.1%.
- The Bone ShibaSwap crypto price has advanced by 148% from its all-time low price.
Bone ShibaSwap (BONE) serves as the governance token for ShibaSwap, the decentralized exchange of the Shiba Inu ecosystem. Introduced by the anonymous team behind Shiba Inu in July 2021, BONE enables community voting, proposal submissions, and access to future NFTs. It holds a key role in the development of ShibaSwap’s metaverse platform, fostering a decentralized ecosystem.
Following an advance of 32% in the trading volume in the last 24 hours, the volume/market cap ratio of the Bone ShibaSwap is 5.53%. It has resulted in a traded volume worth $10.024M and ranking 365th in the cryptocurrency market.
The current market cap of Bone ShibaSwap crypto is $165.033M, which has declined by 3.3% in the last 24 hours. Also, the market cap dominance of the crypto is very low resulting in 0.01%.
Blockchain Data Analytics
The fully diluted valuation of the ShibaSwap is $180.54M and the liquidity of the crypto is $2.73M. Also, the annualized fee of the crypto is $1.62M and the current active addresses of the crypto in the last 24 is just 92.
The circulating supply of the crypto is 229.923M BONE, which is 91.97% of the max supply. Moreover, the total supply of the crypto is 249.99M BONE and the max supply is 250.0M BONE.
BONE Crypto Technical Analysis
On the weekly charts, it can be observed that the BONE crypto is following a huge consolidation zone. Thus, the swing of the crypto price becomes very important for future prediction. The most recent swing high of the BONE crypto is at the level of $0.9840. If the price breaks above the following given level, it can lead to a higher resistance level.
BONE/USD Chart by TradingView
The trading price of the BONE crypto has declined below the crucial EMAs such as the 50-day and the 200-day EMAs. The EMAs are also trading in a death cross and the price has declined below the median line of the Bollinger band. Moreover, the value of the Bollinger band is also consistently declining.
The RSI is also declining from the overbought zones and has hit the level of 46.41, breaking below the 14-day SMA. It shows the profit booking in the BONE crypto price.
Conclusion
Despite a recent 148% surge from its all-time low, Bone ShibaSwap (BONE) faces bearish signals. The crypto has slipped by 3.1% in the last 24 hours, struggling around $1. Trading below crucial EMAs, including the 50-day and 200-day, and forming a death cross, and BONE’s declining RSI (46.41) indicate profit booking and weakening momentum, emphasizing a cautious outlook for crypto bulls.
Technical Levels
Support Levels: $0.4322 and $0.5880
Resistance levels:$1.4230 and $1.9400
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
