Latest Bone ShibaSwap (BONE) Price Analysis

Deep Dive

1. Shibarium Security Upgrades (Bullish Impact)

Overview: Shibarium’s bridge for BONE transfers between Ethereum and its L2 resumed operations on October 14 after implementing a 7-day withdrawal delay and malicious address blacklisting (The Shib). These measures followed a September exploit where 4.6M BONE was temporarily compromised.

What this means: The bridge reactivation enables smoother BONE liquidity flow, while enhanced security reduces systemic risks. This aligns with increased Shibarium activity – the network now hosts 272M addresses and 1.54B transactions.

What to look out for: Continued TVL growth in ShibaSwap (up 137% to $1.15M) and adoption of BONE-powered privacy features planned for 2026.

2. Technical Rebound (Mixed Impact)

Overview: BONE found support near the 78.6% Fibonacci retracement level ($0.0828) after a 46% 90-day decline. The RSI-14 at 37.55 suggests oversold conditions are easing but not fully reversed.

What this means: Short-term traders may be capitalizing on discounted prices, though the MACD histogram (-0.00086) still signals bearish momentum dominance. Sustained moves above the 30-day SMA ($0.0927) are needed to confirm trend reversal.

3. Ecosystem Sentiment Shift (Neutral Impact)

Overview: Despite BONE’s 81% annual decline, SHIB’s burn mechanism (fueled by BONE gas fees) destroyed 6.4M SHIB tokens in 24h – a 2,753% spike (Shibburn).

What this means: Increased Shibarium transaction activity could gradually tighten BONE’s circulating supply (229.9M of 250M max). However, broader memecoin weakness persists – the crypto Fear & Greed Index remains at 29 (“Fear”).

Conclusion

BONE’s minor rebound reflects technical stabilization and Shibarium’s incremental recovery, but macro headwinds (Bitcoin dominance at 59%, altcoin season index at 17) limit upside. Key watch: Can Shibarium’s TVL hold above $1.8M this week?

Deep Dive

1. Shibarium Security Concerns (Bearish Impact)

Overview: Shibarium, BONE’s native L2 chain, suffered a $4M exploit in September 2025 when attackers compromised validator keys and drained bridge assets. While the bridge reopened in October with enhanced safeguards (7-day withdrawal delays, address blacklisting), trust remains fragile.

What this means: The exploit directly impacted BONE’s utility as Shibarium’s gas token. Reduced network activity followed – Shibarium’s TVL ($1.86M) remains 95% below pre-hack levels (CryptoNewsLand). Ongoing fears of residual vulnerabilities likely contributed to recent selling pressure.

What to look out for: Shibarium’s planned 2026 privacy upgrade using Zama’s fully homomorphic encryption – successful implementation could restore confidence.

2. Technical Breakdown (Bearish Impact)

Overview: BONE broke below its 7-day SMA ($0.0857) and 30-day SMA ($0.0932), with RSI (38-40) signaling bearish momentum. The MACD histogram (-0.00115) confirms downward acceleration.

What this means: The breakdown invalidated a potential bullish wedge pattern. Immediate support at the 78.6% Fib retracement ($0.0827) failed to hold, exposing the 2025 low of $0.077. Thin liquidity (24h volume down 29.9% to $1.15M) exacerbates volatility.

Key level to watch: A close below $0.08 could trigger algorithmic sell orders.

3. Memecoin Rotation (Mixed Impact)

Overview: Memecoins face headwinds as Bitcoin dominance rises (58.98%) and the Altcoin Season Index sits at 17 (“Bitcoin Season”). Newer tokens like WEPE and Snek are diverting attention from BONE.

What this means: BONE lacks the viral catalysts driving newer meme assets. Its -82.94% 1Y return contrasts with Solana-based memecoins’ resurgence. However, BONE’s fixed supply (250M) and Shibarium integration offer long-term scarcity upside if adoption rebounds.

Conclusion

BONE’s drop reflects project-specific risks (Shibarium’s security legacy) and sector-wide headwinds (memecoin outflows). While oversold conditions could prompt a bounce, sustained recovery likely requires Shibarium usage growth post-2026 privacy upgrades.

Key watch: Can BONE hold $0.08 support ahead of Shibarium’s Q1 2026 validator rotation?