Gushiken Yona
Bone ShibaSwap (BONE) claimed the $0.09 price level after a 9% weekly advance. The governance and utility token of the Shiba Inu ecosystem flashed a bullish reversal signal on key momentum indicators Monday. The asset traded at approximately $0.09031, marking a 9.18% gain over the past seven days and outperforming the broader altcoin index.
Key Points
- The Rally: Bone ShibaSwap (BONE) advanced over 9% this week to reclaim the $0.09 level, decoupling from broader altcoin consolidation to flash a bullish reversal signal.
- The Technicals: A decisive MACD crossover and an RSI of 57.49 indicate building bullish momentum with room to run before hitting overbought territory.
- The Liquidity: A massive disparity has emerged between thin centralized exchange order books and deep on-chain liquidity, with ShibaSwap’s $1.98M pool serving as the primary anchor for price discovery.
The advance suggests a potential structural shift for the asset. BONE spent much of late December consolidating near the $0.080 support level.
Recent price discovery currently drives the recovery. On-chain utility demand appears to be diverging from centralized speculative flows.
BONE MACD Pivot and Momentum Zones
Chart data from the early Asian trading session shows a decisive shift. The Moving Average Convergence Divergence (MACD) executed a bullish crossover.
The MACD line rose above the signal line. Expanding positive bars on the histogram accompanied the crossover. Traders typically interpret a positive MACD shift as confirmation that bearish momentum has exhausted itself. The signal suggests a new uptrend is forming.
The Relative Strength Index (RSI) currently reads 57.49. The level places BONE in a growth zone. Buying pressure is rising without hitting overbought conditions.
Analysts typically define overbought conditions as an RSI above 70. Rising RSI and a positive MACD crossover show the asset has room to extend its rally before encountering significant technical resistance.
Liquidity Concentration and Order Book Depth
Market data reveals a significant disparity between trading volume and available liquidity. Total 24-hour volume reached approximately $938,000. Several centralized exchanges recorded outsized activity.
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KCEX led the market with $143,995 in volume. GroveX and MEXC followed with $119,685 and $107,730. A deeper look at the order books reveals a fragile market structure for centralized traders.
Exchanges like Gate and MEXC show +2%/-2% depth figures below $3,000. This indicates that even a modest market order could cause significant price slippage on these platforms.
ShibaSwap remains the primary anchor for the asset. The BONE/WETH pair on ShibaSwap maintains $1.98 million in total liquidity.
This decentralized depth provides the necessary floor for the current rally. Most price discovery occurs on-chain where the liquidity score sits significantly higher than its centralized counterparts. Investors moving larger clips of capital must rely on these decentralized pools to avoid the high costs associated with thin centralized order books.
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Fundamental Context for 2026
BONE price action remains intrinsically linked to the activity of the Shibarium network. Users require the token to pay for gas fees on the layer-2 chain.
Circulating supply stands at 229.92 million tokens. Market capitalization reached $20.76 million on Monday.
The asset functions as a high-beta play on the adoption of the Shiba Inu infrastructure. Market participants view the ability to hold the $0.090 level as a litmus test for the ecosystem’s resilience in the 2026 cycle.
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YONA GUSHIKEN
Yona brings a decade of experience covering gaming, tech, and blockchain news. As one of the few women in crypto journalism, her mission is to demystify complex technical subjects for a wider audience. Her work blends professional insight with engaging narratives, aiming to educate and entertain.
