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Highlights
- Bone ShibaSwap (BONE) crypto is primarily the cryptocurrency which allows the ShibArmy users to vote on the future of various Shiba Inu projects.
- On 30 August, the 727th-ranked token witnessed a rally of 72.23% at 5:30 AM (GMT +1), according to CoinMarketCap.
- The BONE crypto was trading at US$1.91 with a trading volume of US$5,05,16,043, according to CoinMarketCap.
Bone ShibaSwap (BONE) crypto is primarily the cryptocurrency which allows the ShibArmy users to vote on the future of various Shiba Inu projects. Powered by the Ethereum blockchain, the BONE crypto fits perfectly within the decentralised ecosystem and facilitates features such as staking and swapping.
Together with SHIB and LEASH, the BONE crypto completes the ShibaSwap ecosystem allowing the users of the ShibArmy to access upcoming NFTs and additional tools. As a relatively newer token on the horizon, the token has witnessed significant gains over the past year.
In fact, in the past year or so, BONE crypto has registered gains of 42.3%, according to CoinGecko. Even today, on 30 August, the 727th-ranked token witnessed a rally of 55.94% at 5:30 AM (GMT +1), according to CoinMarketCap.
Reason for BONE crypto's rally
BONE crypto on Tuesday seems to be on the back of the news of the BlueBit exchange listing. Before the exchange BlueBit listing, which took place on 29 August, the BONE crypto was also listed on Gate.io on 17 August.
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The exchange listing has garnered enough market interest in the token as its RSI soared to 84.08 during the intraday trading session, indicating it is in the overbought zone.
Image credit: Trading View
In fact, the token is witnessing a U-Shaped rise of late, especially post 28 August. As seen in the MACD indicator, the BONE token's momentum is getting stronger, with the MACD line significantly higher than the signal line.
BONE crypto's price performance
The BONE crypto was trading at US$1.91 with a trading volume of US$5,05,16,043, according to CoinMarketCap. The token also enjoyed a good volume spike on Tuesday, gaining over 295% with a live market cap of US$1,33,12,904 and a circulating supply of 69,75,300 BONE coins.
BONE crypto's recent performance has been positive, with the token witnessing gains of over 128% over the past week. Even though it has retraced a bit today, the rally has been significant enough to attract market participants.
Having said that, while the recent rallies have been quite impressive, it is also important to understand that the crypto market's fortunes can change quickly. Hence one should always be on their toes to know how the market is faring and study it properly before taking crucial investment decisions.
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