- BONE’s market indicators were bullish and suggested a further upward trend.
- The price of SHIB also moved up and the statistics were positive.
Bone Shiba Swap [BONE] was trending on Twitter, and a major reason for this could be Shibarium. Not only was it trending, but the latest data showed that there was a good chance that the token would gain bullish momentum in the coming days. In the midst of this, one Shiba Inu [SHIB] official made an announcement that caught the attention of many as it alluded to the highly anticipated Shibarium launch. While the price of BONE went up, SHIB also benefited somewhat from the situation.
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BONE is on fire!
LunarCrush’s facts revealed an important bullish signal for Bone. According to the data, BONE topped the list of cryptos in terms of Altrank, indicating a price increase in the coming days.
$BONE π pic.twitter.com/gmuS0pLDiQ
β πππππ (@LucieSHIB) July 8, 2023
In fact, the rank has already translated into reality as the price of BONE is up more than 6% in the last 24 hours. One factor that played a big role in this rise was Shytoshi Kusama’s latest blogging. In the blog, he hinted that the launch of Shibarium could take place in August after the Blockchain Futurist Conference.
Not only did the price of the memecoin increase, but the trading volume also increased by more than 20% in the past 24 hours, which was bullish. From CoinMarketCap, at the time of writing, BONE was trading at $1.43 with a market cap of over $328 million, making it the 96th largest cryptocurrency. The memecoin’s MVRV ratio was also high, increasing the likelihood of a sustained uptrend. However, it was interesting to note that despite the price, BONEthe supply on exchanges increased, while the supply outside the exchanges decreased.
Source: Sentiment
That can be expected from BONE
The Exponential Moving Average (EMA) ribbon revealed that the bulls were well ahead of the bears as the 20-day EMA moved above the 55-day EMA. The MACD continued to favor the bulls. Nevertheless, the Relative Strength Index (RSI) was in the overbought zone, which could spell trouble in the coming days.
Source: TradingView
Read Shiba Inus [SHIB] Price prediction 2023-24
While BONE enjoyed the win, SHIB didn’t miss the party either, as the price is up 4% in the last 24 hours. At the time of writing, it was trade at $0.000007616 with a market cap of over $4.4 billion. A look at the on-chain stats suggested that the uptrend could continue.
For example, according to data from Coinglass, SHIB’s public interest increased. An increase in the metric means that the current price trend can continue. In addition, CryptoQuant’s facts revealed that SHIB’s exchange reserve decreased, indicating increased buying pressure, which may support the memecoin’s uptrend in the coming days.
Source: Coinglass