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Bone ShibaSwap Price Prediction 2024: Can New Users Grow BONE?

Last Updated February 19, 2024 1:25 PM
Peter Henn
Last Updated February 19, 2024 1:25 PM

Key Takeaways

  • The ShibaSwap crypto exchange, powered by the Bone ShibaSwap (BONE) token, is the DEX of the Shiba Inu ecosystem.
  • The BONE token experienced a 40% rise in new holders in early 2024. 
  • What’s next for the BONE crypto?
  • One Bone ShibaSwap price prediction says the token can get to $2.11 in 2025.

The ShibaSwap crypto exchange has been pretty successful since it launched in 2022. Cashing in on the popularity of the Shiba Inu (SHIB) memecoin, it has found a pretty devoted fanbase.

On August 1 2023, the platform announced  that it was to release its supply of its native Bone ShibaSwap (BONE) token as the whole Shiba Inu ecosystem prepared for the launch of its Shibarium layer 2 scaling solution. 

On August 16, Shibarium launched. Unfortunately, the following day saw the crypto market crash after Elon Musk’s SpaceX offloaded billions of Bitcoin (BTC) and US Government bond yields rose.

Matters were not made easier when Shibarium users found their transactions stuck as pending. The platform was able to fix these problems, but the token dropped by 35% in just one day. Investors may not have been reassured by Shiba Inu lead developer Shytoshi Kusama blaming fear, uncertainty, and doubt (FUD), rather than technical issues, for the problems.

Indeed, BONE managed to fall in price in 2024, a time when the average crypto more than doubled. Nevertheless, a rise  in active users could give holders hope for the future.

On February 19, 2024, BONE was worth about $0.603.

But what is Bone ShibaSwap (BONE)? How does Bone ShibaSwap work? Let’s see what we can find out, and also take a look at some of the Bone ShibaSwap Price Predictions that were being made as of August 29 2023.

Bone ShibaSwap Price Prediction

Let’s examine some of the Stellar price predictions being made on August 29 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $1.18 $1.48 $4.34
Prediction #2 $1.51 $2.11 $7.37
Prediction #3 $0.8223 $1.19 $7.66

First, CoinCodex  made a short-term Bone ShibaSwap price prediction that said it would fall to $0.5637 by February 24 before recovering to $0.6696 by March 20. The site’s technical analysis was bearish, with 23 indicators sending discouraging signals and just five making bullish ones. 

Bone ShibaSwap Price Prediction for 2024

DigitalCoinPrice  said Bone ShibaSwap would reach $1.72 in 2024. Bitnation  said the token would hit $1.30 and PricePrediction.net  thought BONE could be worth $0.8223 this year. 

Bone ShibaSwap Price Prediction for 2025

Bitnation said Bone ShibaSwap would get to $2.11 in 2025. DigitalCoinPrice thought it would reach $1.48. PricePrediction.net argued that BONE would trade at $1.19 in two years time. 

Bone ShibaSwap Forecast for 2030

Moving on to a more long-term Bone ShibaSwap price prediction, PricePrediction.net said it would reach $7.66 in 2030. DigitalCoinPrice said the token would trade at $4.34. Bitnation made a BONE price prediction that said it would stand at $5.13 at the start of the next decade. 

Google Gemini AI Price Prediction for Bone ShibaSwap (as of February 19)

Google’s Gemini AI platform gave the following price prediction for Bone ShibaSwap on February 19. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short-term (next 3 months):

  • Positive factors:
    • Shibarium launch: If the Shibarium Layer-2 blockchain launches within this timeframe with widespread adoption and utility, it could significantly increase demand for BONE, potentially pushing the price upward.
    • ShibaSwap ecosystem growth: Continued development and adoption of ShibaSwap features like Treat Farms and Woof Pools could drive BONE utility and demand.
    • Market sentiment: If the overall cryptocurrency market experiences a bullish run, it could positively impact BONE’s price alongside other tokens.
  • Negative factors:
    • Shibarium delays: Delays in the launch of Shibarium could dampen investor sentiment and negatively impact BONE’s price.
    • Negative Shiba Inu news: Any negative news surrounding the Shiba Inu ecosystem could spill over and affect BONE’s price.
    • Market correction: A general market correction could lead to BONE’s price falling regardless of individual project developments.

Medium-term (next 12 months):

  • Positive factors:
    • Shibarium and ShibaSwap ecosystem success: Continued success and adoption of Shibarium and the ShibaSwap ecosystem could significantly increase BONE utility and demand, potentially leading to price appreciation.
    • Partnerships and integrations: Strategic partnerships with other projects or mainstream adoption could significantly boost BONE’s value and usage.
    • Governance participation: Increased community participation in BONE governance proposals could indicate growing confidence and potentially contribute to price stability.
  • Negative factors:
    • Competition: Increased competition from other Layer-2 solutions or meme-based tokens could limit BONE’s market share and growth.
    • Regulations: Regulatory changes impacting cryptocurrency or Layer-2 solutions could create uncertainty and negatively affect BONE’s price.
    • Team execution: Failure to deliver on development roadmaps or key milestones could harm investor confidence and impact the price.

Long-term (next 5+ years):

  • Positive factors:
    • Widespread adoption of Layer-2 solutions: If Layer-2 technologies become mainstream, successful integration and utilization of Shibarium could position BONE for significant long-term value.
    • Maturation of the Shiba Inu ecosystem: Long-term success and innovation within the Shiba Inu ecosystem could create lasting demand for BONE as a governance and utility token.
    • Shifting market sentiment: Growing acceptance and institutional adoption of cryptocurrencies could increase overall market cap and potentially benefit BONE.
  • Negative factors:
    • Technological advancements: New technologies or protocols could render Shibarium and BONE obsolete.
    • Shiba Inu ecosystem decline: Failure of the Shiba Inu ecosystem to maintain relevance and user base could negatively impact BONE’s long-term value.
    • Unforeseen events: Significant external events or regulatory changes could have a major impact on the entire cryptocurrency market, including BONE.

It added: “Remember, these are just potential factors, and the actual price of BONE could deviate significantly from any prediction. It’s crucial to do your own research, understand the risks involved, and never invest more than you can afford to lose.”

Recent Updates from Bone ShibaSwap

On August 28, Shibarium announced  that its bridge – its way of withdrawing crypto from the platform – was fully operational. 

In a blog post, Kusama said that it would take up to seven days to withdraw BONE. 

He also thanked developers at Polygon (MATIC) for helping fix the problem. Shibarium is based on Polygon’s technology.

On September 16 , Shibarium confirmed the BONE minting and renouncing process.

Moving forward to February 2023, the platform experienced a rise in new registrations of nearly 40%.

BONE Price History

Now, let’s examine the Bone ShibaSwap price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Bone ShibaSwap price prediction.

When BONE came onto the open market in September 2021, it was worth what still stands as its record level, $41.67. The market soon thought it was overvalued, and it shot down to about $1 before recovering to a little over $3.20 in early November. It dropped again and closed the year at $1.57.

Although things were good for crypto in 2021, they went bad in 2022. However, although BONE suffered as the market suffered a string of collapses, it could have been far worse. Its end-of-year price of $0.8471 may have been down 46% year-on-year but, considering the overall crypto market’s decline of more than 60%, it was actually one of the year’s better performers.

Bone ShibaSwap in 2023

Bone ShibaSwap Price History
Bone ShibaSwap has dropped over the last 12 months | Credit: CoinMarketCap

The token had a largely unimpressive 2023. It surged to a little over $2 in late February but then it fell.

The United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges hit BONE. On June 10, following Crypto.com (CRO) suspending its US institutional operations, it fell to a low of $0.6764.

Since then, though, BONE has risen. As excitement about Shibarium grew, so did the price, which broke past the dollar in early July. By August 5, BONE was worth $1.80. 

The token then dropped, and a slump became a crash when it fell from $1.73 on August 17 to $1.11 the following day. It recovered to $1.44 on August 24, but then entered a notable decline, closing the year at $0.6806. This represented an annual fall of nearly 20% in a year when the overall market more than doubled.

By February 19 2024, Bone ShibaSwap was worth about $0.603.

At that time, there were 229 million BONE in circulation out of a total supply of just over 230 million. This gave the token a market cap of about $138.6 million, making it the 326th-largest crypto by that metric.

Bone ShibaSwap Price Analysis

Bone ShibaSwap Price Analysis
Can BONE rise again?

The price of BONE has been dropping since August 2022 but has been in an uptrend since February 4 this year. 

If it can reach above $0.65, this would mean a new uptrend has started. This would also suggest BONE can break past $1.80 at some stage. 

Is Bone ShibaSwap a Good Investment?

It is hard to say. The launch of Shibarium did not exactly go well. Not only that, but more astute investors may not be encouraged by any issues with the platform or the BONE token being blamed on fear, uncertainty and doubt. All too often, this has felt like a catch all excuse, with the implication being that holders can, in effect, wish the price of a failing crypto up. 

Something else that might cause potential investors cause for concern is the lack of an official whitepaper. This lack of technical documentation could easily put people off buying BONE and, instead, take their money elsewhere. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in BONE.

Will Bone ShibaSwap go up or down?

No one can really tell right now. While the Bone ShibaSwap crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I Invest in Bone ShibaSwap?

Before you decide whether or not to invest in Bone ShibaSwap, you will have to do your own research, not only on BONE, but on other, related, coins and tokens such as Uniswap (UNI) or Curve DAO (CRV). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Bone ShibaSwap (BONE) Explained

One of the most important concepts in crypto is that of the crypto exchange. Since cryptocurrency does not have an intrinsic value, having somewhere they can be bought, sold, or traded helps to set a price. 

Decentralized Exchanges, or DEXes, were created to address potential issues with traditional, centralized exchanges (CEXes). Rather than be limited to what a centralized authority says can and cannot be listed, people are able to trade whichever crypto they want for whatever crypto they want at a price set by the market.

ShibaSwap , based on the Ethereum (ETH) blockchain is one of many decentralized exchanges out there. Founded in 2021 by the team behind the Shiba Inu (SHIB) crypto, it is supported by the Bone ShibaSwap (BONE) crypto token.

How Bone ShibaSwap Works

The ShibaSwap decentralized exchange works in the same sort of way as most other DEXes. Rather than have an order book, the platform uses liquidity pools to set prices and facilitate trades.

In terms of BONE itself, it is used to help the system function. People can use it to provide liquidity. BONE can be staked, or set aside, in return for rewards. Holders have the right to vote on changes to the network, and BONE can also be bought, sold, and traded on exchanges. 

Because the ShibaSwap DEX is based on Ethereum, BONE is a token, not a coin. You might see references to such things as a Bone ShibaSwap coin price prediction, but these are wrong. 

Bone ShibaSwap Attention Tracker

Bone ShibaSwap Google Search Volume
Bone ShibaSwap Google search volume | Credit:
CoinMarketCap

Here is a chart for the Bone ShibaSwap Google search volume for the past 90 days. This represents how many times the term “Bone ShibaSwap” has been Googled over the previous 90 days.

FAQs 

How many Bone ShibaSwap are there?

On February 19, 2024, there were 229 million BONE in circulation out of a total supply of just over 230 million.

Will Bone ShibaSwap reach $10?

It might do, but not for a while. PricePrediction.net says it could get there in 2031, while DigitalCoinPrice says it will reach double figures in 2033. 

Keep in mind that, although BONE was initially valued as being worth substantially more than $10 when it launched in September 2021, it has not traded at that level since then. 

What is Bone ShibaSwap used for?

BONE is used to help fund liquidity pools on the Bone ShibaSwap decentralized exchange. Holders can vote on changes to the network, and it can also be bought, sold, and traded on exchanges. 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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