Despite a generally negative week for most cryptocurrencies, Bone ShibaSwap (BONE), a token associated with Shiba Inu (SHIB), experienced a roughly 4% increase in value, pleasing its investors. In contrast, the pioneering blockchain token SHIB maintained a horizontal trend.
BONE’s price remained in positive territory throughout the past week, showing a profit for investors with over a 4% rise according to CMC data. At the time of writing, it was trading at $0.00001389 with a market value exceeding $879 million.
Data from Santiment indicates an increase in BONE’s social volume, suggesting the altcoin’s growing popularity in the crypto space. However, despite the recent price surge, the weighted sentiment remained negative, reflecting confusion among investors, a common sentiment around meme coins during market downturns.
Speculation arises on how BONE will perform during peaks of major altcoins, given the past excitement around similar coins like Solana‘s BONK and AVAX’s COQ, which garnered significant investor attention.
While BONE’s charts stay positive, Shiba Inu’s price temporarily dipped into negative territory. According to 21milyon.com, SHIB saw a 1% increase in the last 24 hours, trading at $0.000009614 with a market value over $5.6 billion, and 0.0002912 TL in the SHIB/TRY pair. The underlying buying pressure on the meme coin is increasing, though the cause of SHIB’s price stagnation is unclear. With a recent decrease in SHIB’s exchange supply, investors may be accumulating, potentially driving up the price. Shiba Inu’s reaction to BONK’s recent price movements will be closely monitored by investors in the coming days.