Why Is Shiba Inu’s $BONE On The Rise And Is It Time To Get In?

Meme currency Shiba Inu is now able leverage its popularity to create BONE token that attracts the interest of investors. ShibSwap’s native token is $BONE. As with any other decentralized exchange, the native token is put to use by being used for swaps. The result has been a rise in the value of BONE. The digital asset has now moved again.

BONE Exchange Listings Trigger Rise

BONE has received a lot from the community, much like Shiba Inu. The cryptocurrency has seen an increase in value as a result of exchanges listing it on their platforms. 

Gate.io’s vote, which included BONE, was the first to spur the upward trend. Exchanges sometimes hold voting competitions to determine which digital assets are best. The ones that receive the highest votes will be listed on the exchange. BONE’s potential listing on Gate is enough to propel it forward.

Shiba Inu BONE price chart from TradingView.com

BlueBit, a crypto-exchange also listed the token. Both of these developments drove increased interest in the token. The price of the token soared over 110% in 48 hours. The price has increased 83.22% over the 24 hour period to $2.10.

Are You Ready to Get in?

Due to the fact that cryptocurrencies like BONE rely on hype, high-risk play is possible. If this hype dies down, it can cause a rapid price crash and leave a lot to the victims.

However, they have also been known to rally beyond anyone’s expectations, bringing large profits for investors. It is important to be in the game as soon as it becomes mainstream. As an example, about 3% is still in circulation for BONE. The supply of digital assets will continue to increase and will likely impact the prices.

Remember that meme coins have a high risk nature and can quickly be lost. So long as the interest rate remains high, more growth will be possible before there is a correction.

BONE’s total trade volume in the past 24 hours has reached $72.8million, an increase of more than 400%. This is a sign that the coin has reached its peak and is about to reverse.

Featured image by Watcher Guru. Chart from TradingView.com

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