- Bone ShibaSwap crypto has witnessed higher short liquidations in the last 24 hours.
- The price of the BONE crypto is down by 96% from its all-time high price.
Bone ShibaSwap is the governance token for ShibaSwap DEX, empowering the Shiba Inu community to vote and submit proposals. Founded by the team behind Shiba Inu (SHIB), it’s an Ethereum-based token facilitating liquidity provision and staking on ShibaSwap. BONE is part of ShibaSwap’s vision for a robust decentralized ecosystem.
The annualized fees for the Bone ShibaSwap crypto is $1.77 Million and the current liquidity of the crypto is $3.48 Million. Also, the total value locked for the token is $25.71 Million. Also, the current market cap value of the crypto is $146.609 Million which further results in a market cap ranking of #338 as per CoinMarketCap.
The trading volume for the Bone ShibaSwap crypto has further witnessed a decline of 4.7% in the last 24 hours. This further results in a traded value of $10.151 Million. Also, the volume/market cap ranking of the crypto is 6.93%.
The market cap of the crypto with the trading price has advanced by 6.9% in the last 24 hours resulting in a market cap dominance of 0.01%. The volatility of the BONE crypto is also high resulting in 15.52%.
The sentiment of the token is bearish as per CoinCodex and the fear and greed index further is at 66 indicating greed.
The fully diluted market cap of the crypto is $157.933 Million and the maximum supply of the crypto is 250.0M BONE. Also, the total supply of the crypto is 249.99 Million BONE and the circulating supply of the crypto is 229.923 Million BONE.
Bone ShibaSwap Crypto Derivatives Analysis
The long liquidation for the Bone ShibaSwap in the last 24 hours is just $1.66K while the short liquidation for the crypto is worth $4.64K. The derivatives volume for the crypto further has declined by 21.2% in the last 24 hours.
Moreover, the value of the traded volume for the crypto in the last 24 hours is $2.40 Million and the open interest of the crypto has further declined by 8.1% resulting in $309.82K.
Social Dominance Vs Social Volume Of Bone ShibaSwap
The social volume for the BoneShibaSwap is advancing over time as per Santiment which represents the engagement of crypto enthusiasts. Following this, the social dominance of crypto is also advancing over time.
BONE Crypto Technical Analysis
The price of the BONE crypto is trading inside a declining wedge pattern and has been witnessing strong profit bookings in recent days. Following this, the price of the crypto has declined to the lower band of the wedge pattern.
This further shows the dominance of sellers based on the current scenario as the candlesticks formed on the weekly chart are also strong. If the price of the crypto further breaks below the falling wedge pattern, strong profit booking in the crypto might be seen.
BONE/USD Chart by TradingView
Bone crypto is trading with a death cross of the 50-day and the 200-day EMAs. The price of the crypto further has declined below the following EMAs and is declining steadily.
The MACD indicator is supporting the bearish sentiment as the MACD and the signal line trade below the zero level. The following metrics are also trading in a bearish cross.
The RSI is continuously declining to lower levels by taking rejection from the 14-day SMA. It further has declined below the 50 level and is currently trading at 36.86. This shows bearish momentum in the trading price of the crypto.
Summary
Bone ShibaSwap faces significant challenges with higher short liquidations and a 96% decline from its all-time high. Despite its governance role in ShibaSwap, BONE’s market sentiment is bearish, reflected in declining technical indicators like the death cross and MACD. With strong profit booking and declining RSI, further downside seems likely.
Technical Levels:
- Support Levels: $0.405 and $0.5310
- Resistance Levels: $1.670 and $2.390
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.