This Meme Coin Keeps Rising: Can It Reach $3?

Leading cryptocurrency exchange Gate.io today with USDT pairing Bonnet announced the token listing. The Bone will be listed on Gate.io on February 24, 2023 and open for trading at 4:00 PM. The exchange has more than 10 million registered users. This is another step forward for token adoption. The token climbed as high as $2.05 after the listing announcement.

Shiba Inu’s Bone Icon: How High Can It Go?

The Bone has been doubling its price steadily since August 2022, when it went from $0.48 to $1.09 in 30 days. The token later faced fixes. But Shibarium gained momentum and soared because of the launch rumors. In 2023, it went from $1 to $2.05 in a month and is drawing heavy bullish sentiments in the indices.

Onchain and analytics firm CoinCodex have updated their price forecasts for Bone. He predicted that the token could reach a value close to $3 by March 2023.

According to CoinCodex, it is possible for Bone to hit a year high at $2.71 in the last week of March. This represents an increase of about 38% from its current price of $1.96.

New roster from Gate.io and upcoming shibarium The beta launch is what drives its price up. More importantly, Bone has a total supply of 250,000,000 tokens, which is likely to make Shibarium scarce once it’s fully launched. Bone is the management token in the layer-2 network and will be used as a gas fee to initiate transactions.

In addition, the tier 2 network allows users to stake Bone tokens as validators and earn passive income. As a result, the token has multiple uses that could sustainably increase its price in indices.

At the time of writing, Shiba Inu’s ecosystem token Bone is trading at $1.96. However, it was up 5% in 24-hour daily transactions. The Bone is down 87.37% from its all-time high of $15.50, which it reached in July 2021.


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