Will Bone Price Reclaim $2 Mark Before August End?

For the past 15 months, the BONE ShibaSwap coin has adhered to a sideways trend, encapsulated within the confines of a symmetrical triangle pattern. A key characteristic of this pattern is its ability to restrain price fluctuations within two converging trend lines.

Timeline of Bone-shibaswap

In a surprising turn of events, the Shiba Inu-based BONE token has emerged as one of the top-performing assets in today's crypto market. Despite the broader market's subdued performance, the Bone Shibaswap (BONE) token has registered an 11% surge in the past 24 hours.

Bone ShibaSwap (CRYPTO: BONE) managed to defy the overall cryptocurrency market trends by recording a significant 12% increase, while popular tokens like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) experienced a decline of over 2%. What Happened: Trading at $1.39, Bone ShibaSwap on Thursday emerged as the top gainer among top 100 cryptocurrencies by market capitalization, according to CoinMarketCap.

As the crypto industry awaits Federal Reserve Chair Jerome Powell's imminent talk on the economic landscape at the Jackson Hole meeting, we witness significant movements in cryptocurrency prices. Notably, Bitcoin (BTC), Ethereum (ETH), Bone ShibaSwap (BONE), and dYdX (DYDX) are on an upward trajectory.

In what comes as a major surprise to the Shiba Inu (SHIB) ecosystem, Bone Shiba Swap (BONE) has picked a dramatic uptrend after soaring as high as 15.85% at the time of writing to $1.38. The current outlook of the BONE token has helped it pare off some of its losses of the past week with 8.9% growth.

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the $26,000 level on Thursday. Ethereum (CRYPTO: ETH), also recorded gains, trading above the key $1,600 mark this morning.

The Shiba Inu team led by developer Shytoshi Kusama has reopened the Shibarium mainnet after days of reviewing, testing, and tweaking the chain. After Shiba Inu influencers took to X to announce that the Layer-2 blockchain is live again, Shibarium's gas token Bone ShibaSwap (BONE) skyrocketed more than 15% within hours.

The Shibarium gas token, which is also the Shiba Inu governance token, Bone ShibaSwap (BONE), has scored a new exchange listing. Shiba Inu team member Lucie calls attention to the latest development in a new X post.

After facing a bumpy start, Shiba Inu's much-anticipated Shibarium project is preparing for another shot at a successful launch. Despite serving as the backbone infrastructure of the blockchain, Shibarium encountered a setback on August 16, resulting in a sharp drop in SHIB's price.

Shiba Inu (CRYPTO: SHIB) ecosystem token Bone ShibaSwap (CRYPTO: BONE) is up 7% in the last 24 hours, even as top meme coins such as DOGE (CRYPTO: DOGE), Pepe Coin (CRYPTO: PEPE) and SHIB continue to tumble. What Happened: As of the time of writing, the trading price of BONE stood at $1.23.

The much-anticipated launch of Shibarium mainnet, a groundbreaking Ethereum layer-2 scaling solution, has been accompanied by unexpected turbulence, leading to significant price declines in the Shiba Inu ecosystem.