Despite the downturn in cryptocurrency markets, the Bone ShibaSwap (BONE) token, a part of the Shiba Inu ecosystem, is demonstrating a strong performance. SHIB Knight, a recognized community analyst, suggests that the BONE token is poised for a price surge. Contrary to the wider market, which continues to struggle, BONE has managed to secure a notable price jump from $0.87 to $1.10, hinting at its growing potential for gains.
Tracking BONE’s Upward Momentum
SHIB Knight has been closely tracking the token and has recently provided updates on BONE’s trajectory. The token has shown a remarkable 45% increase over the month, along with a 60% rise in trading volume. This performance is particularly impressive, given the current selling trend in the market, as evidenced by BONE’s Relative Strength Index (RSI) of 36.
Setting Sights on Higher Valuation
While BONE trades at $0.84, SHIB Knight boldly forecasts a 150% rally, aiming for a $3 target price. This optimistic stance is based on the token’s resilience and projected growth, despite losing up to 98% of its value from its peak in 2021. This prediction has sparked interest among investors who are keen on the memecoin’s potential.
Strategizing for Broader Market Access
BONE’s reach is currently limited due to its availability on a select few crypto exchanges. This limited exposure may have curtailed its price gains in comparison to SHIB, the lead token in its ecosystem. Shiba Inu community leaders are now working diligently to secure BONE’s listing on major exchanges such as Binance. They are convinced that such a move could result in significant price rallies for the token.
Champions of the Shiba Inu community believe that a Binance listing could catalyze a rapid price surge, potentially propelling BONE to new heights. They are campaigning for BONE’s wider availability, which they anticipate could help the token surpass the $3 mark before the close of March.