Shiba

Rally

2024

Shiba Inu

BONE, the second-biggest token in the Shiba Inu ecosystem, has had a mixed price movement in the past few days. This up-and-down movement has been accompanied by a surge in trading volume. Crypto analyst SHIB Knight is calling for an <a href="https://www.newsbtc.com/shiba-inu/shibarium-4400-shib-bone/" rel="nofollow noopener" target="_blank">explosive rally</a> soon that could send BONE skyrocketing. Notably, the analyst is predicting a surge to $3.&nbsp;&nbsp; 
<h2 id="crypto-analyst-predicts-explosive-bone-rally">Crypto Analyst Predicts Explosive BONE Rally</h2> 
BONE recently went on a 32% surge from $0.8191 to $1.0808 to outperform the larger crypto market as most cryptocurrencies <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-at-risk-65k/" rel="nofollow noopener" target="_blank">witnessed a decline in prices</a>. Interestingly, this surge was accompanied by a 60% increase in trading volume.&nbsp; 
This surge in activity prompted a social media post from SHIB Knight. While acknowledging the rally, the analyst noted that the crypto is expected to “pump more.” The recent post came as an update to a former prediction over the weekend. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BONE</a> is having a nice pump rn. It will pump more! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/ao3YvsrJzS" rel="nofollow" target="_blank">https://t.co/ao3YvsrJzS</a> <a href="https://t.co/P7HbIDVkmk" rel="nofollow" target="_blank">pic.twitter.com/P7HbIDVkmk</a> 
 — $SHIB KNIGHT (@army_shiba) <a href="https://twitter.com/army_shiba/status/1769693757870379212?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">March 18, 2024</a>
</blockquote> 
In the chart shared by the analyst, he noted how BONE has been trading in a channel with the formation of lower highs. He also pointed out how BONE had tried to break out of the upper trendline of this channel earlier but failed to do so. However, he remains unfazed and believes a breakout to $3 will happen sooner or later, though he doesn’t say when. 
<h2 id="what-s-next-for-bone">What’s Next For BONE?</h2> 
Recent price action indicates that BONE has once again failed to break out of this upper trendline, as it has gone in the direction of the <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-undergone-bearish-analyst-explains/" rel="nofollow noopener" target="_blank">wider bearish trend</a> of <a href="https://www.newsbtc.com/arbitrum/arbitrum-token-sell-off-whales-transfer-58m-to-exchanges-following-unlock-arb-price-reacts/" rel="nofollow noopener" target="_blank">most cryptocurrencies</a>. BONE has reversed most of its recent gains and has fallen by 20% in the past 24 hours and 22.3% in the past seven days.&nbsp; 
At the time of writing, BONE is trading at $0.8638, and a surge to $3 would mean a 245% increase from the current price level. While this seems like a very bullish price point, the $3 price isn’t new territory for BONE, as it has a current all-time high of $15.50. 
BONE acts as the governance token within the ShibaSwap decentralized ecosystem and as gas fees for Shibarium, Shiba Inu’s layer-2 scaling solution. <a href="https://bitcoinist.com/shiba-inu-investing-meme-coins/">Team members</a> have proposed <a href="https://twitter.com/LucieSHIB/status/1769920586547867904?s=20" rel="nofollow noopener" target="_blank">several developments</a> on the horizon that could significantly boost BONE’s price. Overall, BONE appears well-positioned to gain value as long as Shiba Inu’s ecosystem expands. 
Despite its popularity, BONE is yet to be listed on popular exchanges <a href="https://bitcoinist.com/shiba-inu-robinhood-bone/">like Robinhood</a> and Binance, and members of the “Shiba Army” have now taken it upon themselves to <a href="https://bitcoinist.com/bone-binance-shiba-inu-army-campaigns-for-listing/">campaign for a listing on Binance</a>. If successfully listed, the increased accessibility and visibility would likely lead to a price surge for BONE. Perhaps we could see <a href="https://www.newsbtc.com/bone/shiba-inu-bone-explodes/" rel="nofollow noopener" target="_blank">increased BONE accumulation</a> from traders in the days leading up to the listing.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/o9IUwJcs/" alt="BONE price chart from Tradingview.com (Shiba Inu)" width="3286" height="1530">

Crypto Analyst Predicts Explosive Rally For Shiba Inu’s BONE With New Target

Table of Contents

Bitcoinist

Other articles published on Mar 19, 2024

UK Urged to Regulate AI Development to Prevent Potential Catastrophe

Intense Sell-Off Rocks Crypto as Bitcoin and Ethereum Slide

Arbitrum (ARB) and PEPE face huge sell-off pressure: focus shifts to Memeinator presale.

Bernstein Analysts See Bitcoin 'Dip Buying Opportunity' Ahead of the Halving

Breach Strikes Crypto Wallet Trezor’s Twitter, Warning Issued to Users

Top Cryptocurrencies To Buy In 2024 – With Potential For Massive Returns

Join our free newsletter for daily crypto updates!