This altcoin project took a leading position among the top 300 cryptocurrencies last month. The coin, which saw the highest value increase of August, surpassed SHIB, Bitcoin and DOGE.
This altcoin surpasses SHIB and DOGE
Bone ShibaSwap (BONE), the local government token of Shiba Inu’s decentralized exchange, took the lead last month. The altcoin had a massive rally in August, outpacing Bitcoin, SHIB, and DOGE. As a result, he managed to gain great recognition for his massive rally. Now, crypto money seems to continue on its way with much more confident steps.
Crypto data analytics provider LunarCrush named BONE as the best performing token in terms of price among the top 300 crypto assets last month. BONE increased its price by 178.5% in August 2022 alone. After that, he recorded an important turning point. BONE’s massive rise came at a time when altcoins were falling from leaders like Bitcoin (BTC), Shiba Inu (SHIB), Dogecoin (DOGE). Therefore, the attention of investors turned to the market-challenging BONE. LunarCrush said:
“Bone ShibaSwap (BONE), one of the top 300 cryptos, increased its price by 178.5 percent in August. Thus, it became the best performing altcoin in terms of price.”
BONE announces big news
BONE performed remarkably last month after its price developed major resistance to Bitcoin dominance. While the values of other cryptocurrencies such as SHIB and DOGE fell, the price of BONE recorded huge gains. According to Coinecko data, BONE was trading around 0.7084 on August 1, 2022. However, it rose later. The altcoin was hit by the massive drop in crypto prices last month. Therefore, it struggled to break the $1.1 resistance for most of the month.
On August 23, 2022, Gate.io announced that it had purchased $492,000 worth of BONE tokens. This news sparked rumors that the meme coin will soon be listed for trading on the Gate.io exchange. After Gate.io, Singapore-based MEXC Global announced that it holds 11.63 million Bone ShibaSwaps. Thus, it became the company holding the 3rd biggest BONE. These developments caused whales to turn to BONE and the price went up.
The listings caused the price to rise
cryptocoin.com As we reported, BONE was listed on many cryptocurrency exchanges last month. Thus, many investors gained access to adopt the token. These positive developments caused the BONE price to climb as high as $2.15, a nine-month high. The altcoin slumped below $2 after rising according to available data. However, his remarkable rise to surpass SHIB and DOGE deserves praise.
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