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Huge Price Growth Anticipated for Rising Star BONE: Cryptocurrency Price Prediction

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Bone ShibaSwap (BONE) started the year with a strong step forward, rising almost 135% between January 2 and February 23. The uptick took BONE back to the peak recorded between August and September, around $2.051. As BONE collected sell-side liquidity above this level, Bone ShibaSwap price reversed, indicating traders closing their positions.

The ensuing selling pressure sent the altcoin down almost 70% before the $0.685 support level broke the fall. Rising star BONE is now attempting a recovery rally, with industry sleuths anticipating massive price growth.

The expected boom for Bone ShibaSwap price comes amid the Shibarium hype. This powerful Layer-2 (L2) blockchain is a transitional evolution to the Shiba Ecosystem.

Bone ShibaSwap Price Could Rally On Shibarium Hype

Shibarium is the brainchild of Ryoshi, the creator of Shiba Inu as a blockchain L2 solution. According to Ryoshi, establishing a low-cost blockchain solution for a community is pertinent to achieving true decentralization. For this reason, Shibarium presents among the main goals of the Shiba Inu experiment with the potential to reduce transaction fees for Shiba ecosystem participants.

Initially, the Shiba Project Lead, Ryoshi, otherwise called Shytoshi Kusama, said Shibarium’s transaction fees would be minimal if not zero. In his words:

Shibarium will offer low fees for every service, game, or application built on it. Seconds for less than pennies is the goal turnaround time for transactions.

Notably, despite its position among the most secure blockchains, Ethereum is vulnerable to a wide range of challenges. High gas fees is among them, evidenced by the Shiboshi non-fungible tokens (NFTs) that suffered heavy gas prices. This is because Shiba Inu relies on the Ethereum network.

Similar to other projects, Shibarium, the L2 solution, runs a simple and effective SHIB burning mechanism.

It is worth mentioning that Shibarium is designed to facilitate this endeavor meant to reduce the huge supply, potentially serving as a bridge between different ecosystems.

Bone ShibaSwap As Primary Gas Token For Shibarium

The Shibarium Network highlighted that Bone ShibaSwap “is and will remain the only token required for gas fees and use when it comes to Shibarium.” This was in response to claims that using the new network required additional tokens.

Therefore, BONE, Shiba Inu’s offspring token, is critical in L2, serving SHIB layer 2 validators. Noteworthy, the Shiba Inu ecosystem capped BONE minting at 230 million, allowing the remaining 20 million BONE tokens to serve Shibarium validators. As such, a significant increase in the price of Shiba Inu could bode well for the BONE price.

According to Shiba Inu’s marketing specialist, Lucie Sasnikova, SHIB’s prospects are positive. Lucie’s thesis rides on the back of growing recognition, adoption, and potential as a valuable asset.

This could play well for Bone ShibaSwap price in the long term, even as the Crypto.com platform introduced the SHIB/BONE trading pair. The exchange was the first of the large centralized platforms to allow direct trading between SHIB and BONE.

On Crypto.com’s part, the innovation could have been meant to spice up BONE trading on the exchange

BONE ShibaSwap Price Forecast As BONE Readies For Breakout

Bone ShibaSwap price bounced 35% from the $0.685 support floor to attempt a break above the $0.930 resistance level. However, the breakout proved premature as BONE was rejected south and is now gathering momentum for a subsequent attempt.

An increase in buying pressure could see the token break above the $0.930 hurdle, clearing the path for a foray north. A decisive daily candlestick close above the 200-day Exponential Moving Average (EMA) at 0.999 would confirm the bullish thesis.

Such a move could see Bone ShibaSwap price extend a neck north to tag the $1.572 resistance level. A similar breakout happened during the first three weeks of January, which set the tone for the February rally to the range high at $2.051.

The trajectory of the Relative Strength Index (RSI) facing north adds credence to the bullish outlook, suggesting rising momentum. Similarly, the Awesome Oscillators (AO) indicators were above the midline in the positive zone. This momentum indicator edging further away from the midline in the positive territory shows that bulls are leading the market.

Also note that the Parabolic SAR indicator flipped below Bone ShibaSwap price on June 21, meaning the odds favored the north.

Bone ShibaSwap price
TradingView: BONE/USDT 1-Day Chart

Conversely, traders giving in to their selling appetite could give a chance for the bears to take over. The ensuing seller momentum could see Bone ShibaSwap price lose the support offered by the 50-day EMA at $0.836. In the dire case, BONE could extend a leg south to revisit the $0.685 support level. Such a move would denote a 25% slump from the current price level.

BONE Alternative

With Bone ShibaSwap still trying to confirm an uptrend, consider the Thug Life token, the baller’s meme coin trending on social media and within web3 spaces. The token premiered with a presale only recently but has already raised a whopping $116,160 via $THUG sales.

More meme coin-hunting degenerates continue piling cash into the Thug Life project as its hype spreads. Accordingly, crypto market pundits speculate major success from the token considering the reception it has received thus far.

$THUG stands out from the rest of the meme coin category, as it is not based on dog memes or short-term social media fads. This distances from volatility around meme-coin-related theatrics such as those from Elon Musk or Andrew Tate on Twitter. Instead, $THUG is based on the timeless Thug Life movement first popularized by hip-hop stars like Snoop Dogg in the 80s.

Citing a statement on the website, Thug Life is “The baller’s meme coin. Get gangsta in this market and pimp out your money game.”

As the narrative continues, this project offers a very narrow window of opportunity to buy $THUG because the presale will sell out once collections reach $2.058. This is smaller than most comparable presales, meaning you should act now so you are not left out.

Stay abreast of market updates on the Thug Life Token on Telegram or Twitter.

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