Gushiken Yona
Bone ShibaSwap (BONE) is experiencing a meteoric rise, with over $22 million in trading volume recorded today and a double-digit gain over the last 30 days.
The significant price surge in Bone ShibaSwap (BONE) wasn’t an isolated event but rather the culmination of a period of relative consolidation, suggesting a potential accumulation phase preceding the breakout. Analysis of the daily BONE/USDT chart revealed several key technical factors supporting the rally.
BONE Technical Indicators
The recent surge in Bone ShibaSwap (BONE) wasn’t a sudden event but rather the culmination of a period of consolidation, suggesting a potential accumulation phase before the breakout. The daily BONE/USDT chart revealed several key technical factors contributing to the rally.
A dramatic surge, reflected in a tall green candlestick, signaled renewed buying interest, with the daily close decisively above the psychologically and technically significant $0.50 level. This uptick coincided with notably high trading volume, further validating the bullish breakout.
Technical indicators reinforced this positive momentum: the MACD line decisively crossed above the signal line, confirming the bullish trend, and the expanding green histogram indicated increasing strength in the upward movement. Support levels around $0.44 held firm during minor pullbacks, demonstrating the determination of buyers to defend this price zone, while the next major resistance level appeared near $0.64, a previous local high from late October.
This breakout represents a shift to a bullish overall trend, breaking out of a prolonged consolidation range; continued momentum could lead to tests of higher resistance zones.
Behind BONE Meteoric Rise
Beyond the technical indicators, the significant price increase in BONE may also reflect the aggressive campaigning efforts of the Shib Army, the highly engaged community supporting the Shiba Inu ecosystem. This active community has been actively lobbying major centralized cryptocurrency exchanges (CEXs) to list BONE on their platforms.
Increased listing on prominent CEXs would significantly boost BONE’s liquidity and accessibility, attracting a wider range of investors and potentially fueling further price appreciation. The bullish sentiment within the Shib Army, coupled with their concerted efforts to increase BONE’s visibility and trading volume, likely played a considerable role in the recent price surge.
Successful listing on major exchanges would be a significant catalyst for future price growth, adding another layer to the bullish narrative surrounding BONE.
BONE Price Action
As of 6:30 a.m. ET on Tuesday, Bone ShibaSwap (BONE) demonstrated significant market activity, trading at $0.5193, with its 24-hour trading volume skyrocketing by 239.81% to reach $22.65 million, according to CoinMarketCap data. This surge represents a 17.71% increase in daily price, a modest 2.38% gain over the past week, and an impressive 30.44% rally over the past month.
The token’s market cap also saw substantial growth, climbing 18.56% to $121.29 million, highlighting its expanding footprint in the Shiba Inu ecosystem. BONE’s circulating supply remains at 229.92 million, signaling strong investor confidence and an uptick in trading activity as it continues to anchor its role in the Shibarium network.
Read More
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
