[Analysts Optimistic on BONE Price: Is It Ready for a 5x Rise? 】
Shiba ecosystem token BONE ShibaSwap (BONE) has recently risen on the leaderboard. The BONE price has attracted a lot of attention on social media, especially on X, a well-known social platform. Well-known trader SHIB KNIGHT predicts that BONE will hit the $2.5 target.
BONE is the governance token of the Shibaswap DEX and has low transaction fees on Shibarium. According to CoinMarketCap, BONE’s maximum supply is 250 million and the circulating supply is 229 million (91.97%).
The number of BONE holders grew significantly by December 2023, but stagnated at more than 95,000 in 2024. As of this writing, the number of holders is 95,482. The top 100 holders hold 66.34% of the circulating supply, with the top 10 holding 43.43%.
According to Messari data, BONE’s total locked volume (TVL) dropped from $39 million to $20.82 million. The number of Telegram users dropped from nearly 100,000 to 85,350; X’s number of followers remained stable at 3.88 million.
According to Santiment’s chart, BONE’s number of active addresses has fluctuated. The 30-day average active addresses is 4,203, compared with more than 12,000 90 days ago.
BONE has been stuck in a descending wedge for a long time and has recently struggled around the 50-day exponential moving average (EMA). If the price breaks above both EMAs, a long-term bullish trend is expected. As of this writing, BONE is trading at $0.4788 and ranks 343rd in market capitalization at $110.2 million.
MACD and RSI indicators are showing a bearish trend. The price of BONE shows optimism and needs to break through the dynamic barriers of the EMA bands to achieve the upper boundary target. In the bullish case, $0.75 and $1.0 will act as resistance levels. If the price falls, $0.40 will become a defensive level.
