The Shiba Inu ecosystem token, BONE, has emerged as one of the best-performing altcoins in the crypto market. The token, a relatively new player in the crypto world, has experienced a significant boost of 25% in the last 24 hours.
The surge in price is even more impressive, considering that most of the market has been consolidating and struggling to find solid ground.
The impressive rise in the price of the token is coupled with an equally impressive boost in its trading volume, which has soared by 750% in the same period.
InvestorsObserver Sentiment Score, a reliable indicator of the performance of cryptocurrency, has given Bone ShibaSwap a Bullish rating over the last five days based on volume and price movement.
The rise in the value of the token has caught significant attention. According to CoinMarketCap data, the token is currently trading at $1.81, a considerable increase from its low of $1.39 just a day ago.
Moreover, the upward trend has been visible over the past week, with the token experiencing an almost 8% rise in value. The market cap of the token is also up by 26.06%.
Bone Price Driving Factor
It appears that the reason behind this unprecedented surge can be attributed to the recent announcement by BoneArmy regarding the launch of SHIBARIUM Public Beta, which is set to take place this week.
As BoneArmy revealed the exciting news on their official social media channels, crypto enthusiasts and token lovers worldwide eagerly awaited further details on accessing the beta website.
One tweet by the token’s official Twitter account read:
Finally, all the things I said about $Bone in these two years have been proven. How long have you been following me? I want to know who are the old followers.
The excitement surrounding the upcoming launch of SHIBARIUM has caused Bone ShibaSwap to make a bold statement, declaring that the whole crypto world will be lining up to buy the token. The token’s lovers expressed their agreement, with some even stating that it would hit $50 and become the next BTC.
However, some skeptics pointed out that another token, ZinuToken, had already launched its mainetz before SHIBARIUM, giving them a potential advantage over Shiba Inu’s ecosystem token.
Despite this, BoneArmy’s announcement has caused a stir in the crypto community, and it remains to be seen how the launch of SHIBARIUM will impact the future of Bone.