Shiba Inu community analyst SHIB Knight has asserted that Bone ShibaSwap (BONE) is poised for further gains with $3 in sight following a recent 26% surge.
Over the past day, BONE has stood out as a top performer despite Bitcoin persistently pulling the broader market down in a bearish direction. In particular, BONE has surged from a low of $0.8714 to a high of $1.097.
This growth translates to a 25.84% gain within the last 24 hours, with BONE’s volume soaring by 64% compared to the previous day’s figure.
Observing this admirable action from the Shiba Inu ecosystem token, analyst SHIB Knight took to X to comment on the performance. While acknowledging the bullish rally, SHIB Knight emphasized that BONE is set to “pump more.”
$BONE is having a nice pump rn. It will pump more! 🔥🚀 https://t.co/ao3YvsrJzS pic.twitter.com/P7HbIDVkmk
— $SHIB KNIGHT (@army_shiba) March 18, 2024
BONE Prepared for Breakout to $3
The latest post was an update to an earlier analysis of BONE’s outlook. The analyst noted he had anticipated BONE to overcome its prolonged consolidation phase with a bullish breakout, but the breakout failed to materialize.
He shared a chart of BONE’s performance, which suggests the asset is better positioned for this this anticipated breakout. “Breakout will happen sooner or later,” the Shiba Inu analyst declared.
At the time, BONE hovered around $0.9115. Interestingly, the asset grew about 20% in a few hours to reach the current daily high of $1.097. Meanwhile, the Shiba Inu analyst targets a 155.23% rally for BONE, specifically eyeing a $3 price point.
Factor to Propel BONE
Notably, BONE is down 97.56% from its 2021 all-time high of $41.67. On the other hand, the Shiba Inu ecosystem’s leading token, SHIB, has recently broken some of its 2021 highs.
Despite having a substantially lower supply count, BONE has not seen comparable price gains, potentially due to limited exposure among crypto market participants.
For instance, of the top ten most prominent centralized crypto trading platforms, only OKX and Gate.io have listed BONE. Others, such as Binance, Coinbase, KuCoin, and Bybit, have yet to support it.
Meanwhile, leaders of the Shiba Inu community have mobilized members to vote for BONE’s listing on Binance. Community members are confident that BONE’s inclusion on Binance would catalyze explosive rallies to unprecedented levels.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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