Bone ShibaSwap Chart Shows Potential ~109% Surge

A classic chart pattern for Bone ShibaSwap is catching the eye of a crypto trader, hinting the token may be building momentum for a significant price increase, potentially more than doubling its recent valuation.

Bone ShibaSwap ($BONE), a component of the wider Shiba Inu cryptocurrency ecosystem, is currently the subject of technical analysis suggesting a notable upside. After a period of declining value, common across many digital assets, specific formations on its price chart were interpreted by a crypto trader as potential harbingers of a bullish reversal. Bone ShibaSwap primarily serves as the token for transaction fees on Shibarium, Shiba Inu’s layer-2 network.

This particular analysis comes from a crypto trader known as SHIB KNIGHT, who communicates findings on the social media platform X (formerly Twitter) under the handle @armyshiba. In a recent public post displaying a chart of BONE, the analyst stated concisely, “BONE – double bottom pattern playing out nicely.” This observation was paired with a clear price objective: “Potential target is $0.74.”

Technical Outlook for Bone ShibaSwap

So, what’s a double bottom? It’s a reversal pattern that forms after a downtrend, often signaling that selling pressure is waning. Visually, it looks like the letter “W”: two troughs at similar depths, separated by a modest recovery. A breakout above the middle peak—known as the confirmation level—often indicates a shift in momentum.

In BONE’s case, that middle resistance sits around $0.44. If bulls can clear it convincingly, momentum could build quickly. The analyst’s $0.74 target corresponds with a former resistance zone, lending extra weight to the call.

Ecosystem Dynamics May Influence Bone ShibaSwap Price

Bone ShibaSwap’s role in the Shiba Inu ecosystem adds a layer of complexity. As the gas token for Shibarium, BONE’s value is closely tied to network usage. More users, more apps, more transactions? That’s bullish for BONE. But if Shibarium activity lags, demand—and price—could follow.

Markets remain volatile, with macro forces and sentiment often overruling charts. So while technical setups like the double bottom provide a roadmap, they’re not promises.

Still, rising volume and a textbook pattern give bulls something to lean on. Whether or not BONE reaches $0.74, the structure is there—and for now, the story favors upside.

$BONE Market Metrics Reflect Rising Momentum

As of 12:47 p.m. ET on Monday, Bone ShibaSwap (BONE) traded at $0.3467, up 14.57% over the past week. The rally came with a 12.02% jump in 24-hour trading volume, now at $16.9 million—pointing to revived investor interest and growing liquidity.

CoinMarketCap data shows a circulating supply of roughly 229.92 million BONE, giving it a market cap of $79.84 million. That places the token in the mid-cap tier, with recent gains hinting at shifting sentiment as traders respond to technical cues and the evolving Shiba Inu ecosystem.

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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.