What is Bone ShibaSwap (BONE)?
Bone ShibaSwap (BONE) is the governance token for the ShibaSwap decentralized exchange (DEX), operating on the Ethereum blockchain. It empowers holders to vote on proposals that shape the platform’s future, fostering a community-driven ecosystem. BONE also incentivizes liquidity provision and facilitates transactions within the ShibaSwap network, playing a vital role in its decentralized finance (DeFi) operations.
Bone ShibaSwap Live Price and Performance
As of the latest data, Bone ShibaSwap is trading at $0.1907**, reflecting a **-3.55%** change over the past 24 hours. The token opened at $0.1831 today, showing a 4.18% increase from its opening price. Despite a recent dip to $0.1831, it is attempting to regain momentum. Over the past 30 days, BONE has declined by -34.87%, and over the past week, it has dropped by -22.50%**. Compared to its 30-day low, it has seen a marginal increase of 0.22%.
Price Performance Overview
- 24-Hour Performance: -3.55%
- 7-Day Performance: -20.09%
- 30-Day Performance: -29.28%
- 52-Week Range: $0.1760 - $0.7428
- All-Time High (ATH): $1.26 (March 05, 2024)
Market Capitalization and Ranking
Bone ShibaSwap currently holds a market capitalization of **$44 million**, ranking #446 among all cryptocurrencies. The circulating supply stands at 230 million BONE tokens. If the total supply is considered, the market cap would be approximately $47.7 million. BONE is ranked #50 in the meme tokens category and #25 among Layer 2 (L2) tokens.
Trading Volume and Liquidity
In the last 24 hours, BONE recorded a trading volume of $4,126,852, with 21,639,356 coins exchanged across 18 platforms. This volume is above average compared to other cryptocurrencies launched in 2021, which typically see around $285K in daily trading volume.
Technical Analysis and Indicators
Technical indicators provide insights into BONE’s market trends and potential future movements. Key metrics include:
- RSI (14): 33.70 (Natural)
- Commodity Channel Index (20): -193.60 (Buy)
- Williams Percent Range (14): -80.42 (Oversold)
- Moving Averages: Most short and long-term averages indicate a "Sell" signal.
The overall sentiment from technical indicators is bearish, with 12 bearish signals, 2 bullish signals, and 3 neutral signals.
Volatility and ROI
- 3-Month ROI: -31.49%
- 6-Month ROI: -57.34%
- 12-Month ROI: -62.01%
- 3-Month Volatility: 50.93%
- 6-Month Volatility: 76.95%
- 12-Month Volatility: 99.50%
Wealth Distribution and Holder Stats
Wealth distribution is a critical factor in evaluating a cryptocurrency’s stability and decentralization. For BONE:
- Top 10 Addresses: Hold 37.30% of the total supply.
- Addresses 11-100: Hold 29.31%.
- Addresses 101-1000: Hold 17.56%.
- Remaining Addresses: Hold 15.83%.
It’s important to note that some top addresses may belong to exchange wallets, which hold funds for multiple users.
Blockchain Activity
Over the past 24 hours, the BONE network processed 2,510 transactions, averaging 104.58 transactions per hour. The top 100 richest addresses hold 67% of the total supply, equivalent to 166,721,119 BONE tokens valued at $31.8 million.
Bone ShibaSwap Ecosystem and News
BONE is integral to the Shibarium Layer-2 solution, designed to enhance speed, scalability, and cost-efficiency for Shiba Inu holders. Recent developments include:
- Gasless Transactions: Shibarium introduced gasless transactions, potentially reducing short-term demand for BONE as a fee token. However, BONE retains value through governance and staking.
- Bury 2.0 Upgrade: This upgrade transforms staking into an interactive experience, introducing veTokens (voting escrow tokens) that enhance rewards and governance power.
- Market Sentiment: Despite recent price declines, BONE’s utility in Shibarium positions it for potential long-term adoption.
Frequently Asked Questions
What is the primary use of Bone ShibaSwap (BONE)?
BONE serves as the governance token for ShibaSwap, allowing holders to vote on ecosystem proposals. It also incentivizes liquidity provision and facilitates transactions within the platform.
What is the current price of BONE?
The live price of BONE is $0.1907, with a 24-hour change of -3.55%. For detailed historical data and trends, 👉 explore real-time charts and analysis.
How does BONE compare to other meme tokens?
BONE ranks #50 among meme tokens by market capitalization. Its unique value lies in its governance utility and integration with the Shibarium Layer-2 solution, setting it apart from purely speculative meme coins.
What factors influence BONE’s price volatility?
BONE’s price is influenced by market sentiment, Shibarium network activity, broader cryptocurrency trends, and developments within the Shiba Inu ecosystem. Its volatility is currently high, at 99.50% over the past year.
Where can I buy and trade BONE?
BONE is available on 18 exchanges, with a daily trading volume exceeding $4 million. 👉 Discover platforms for trading BONE and other cryptocurrencies.
What is the long-term outlook for BONE?
While BONE has faced recent price declines, its role in Shibarium and community-driven governance could support long-term value. However, investors should monitor network adoption and market conditions.
Conclusion
Bone ShibaSwap (BONE) is a governance token with significant utility within the ShibaSwap ecosystem and Shibarium Layer-2 network. Despite recent bearish trends and price volatility, its community-driven model and technological integration offer potential for future growth. Investors should conduct thorough research and consider both technical indicators and ecosystem developments before making decisions.