Shiba Inu's BONE rises 21% as Shibarium use cases increase BoneArmy $BONE
, the governance token of Shiba Inu and the gas token of Shibarium, has increased by 21% over the past seven days. With these gains, BONE consistently surpasses leading dog-themed coins like Dogecoin and Shiba Inu.
The Bone ShibaSwap price has been on a steady rise since May 21 after a bottom was struck at $0.699. The Shiba Inu governance token saw a sharp rebound on May 22 as buyers emerged, resulting in a large green candlestick. Afterward, BONE marked five out of six days in green with a massive candlestick on May 27. Its price jumped from lows of $0.786 to highs of $0.899 on May 27 as buyers stole the show.
This was sustained until May 28, with BONE seeing a massive 13% rise before relinquishing its daily gains. At the time of writing, BONE was up 1.45% in the last 24 hours to $0.891.Currently, BONE is tackling the barrier near the daily MA 50 at $0.90, which has hampered its price since mid-March. If the bulls succeed beyond this barrier, BONE might aim for the $1.11 level coinciding with the daily MA 200 level next. On the other hand, if sellers gain the edge, BONE might remain in its current range, with support at $0.70.In addition to rebounding as a result of oversold conditions, the price of BONE may have changed in response to its expanding utility on Shibarium beta.
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