Can BONE, the governance token of the Shiba Inu universe, fetch returns for its holders?
Contents
We’re sniffing out a Bone ShibaSwap price prediction. Are the digital forecasters bullish on BONE? What does the recent price action tell us? Keep reading to find out…
Key BONE facts
What is ShibaSwap (BONE)? The Ethereum-based BONE token is the middle doggy of the Shiba Inu token universe. Sitting alongside the hugely popular SHIB and the limited-supply LEASH, BONE acts as the governance token for ShibaSwap, the fully audited decentralised finance (DeFi) and decentralised exchange (DEX) platform.
BONE holders are able to vote and submit proposals on the ShibaSwap ecosystem, primarily in relation to which trading pairs are introduced to the platform.
Since the ShibaSwap DEX requires user-generated liquidity pools (LPs), BONE holders are encouraged to provide liquidity through the distribution of rewards. Users can also “bury” their BONEs in the staking pool for additional rewards. Staking rewards are contingent on the value and duration of your stake.
The Bone ShibaSwap smart contracts are audited by CertiK. CertiK noted a range of centralisation issues in the smart contracts, though all the major issues have since been acknowledged and resolved.
BONE tokenomics
BONE has a fairly limited maximum supply of 250 million, of which fewer than seven million are in circulation. As the token is valued at $0.84, BONE’s market cap is only $5.8m, making it not even in the top 1,000 cryptocurrencies by market cap. Trading volumes are comparatively high, including a recent 24-hour volume of $1.84m, equal to 33% of market cap.
According to official documentation, the hard cap is expected to be reached by July 2024. Approximately 13.824 million BONE tokens are released per month, primarily to stakers and LPs, with 10% going to the treasury.
The total amount of wallets holding BONE is 39,683. The majority is held up in smart contracts. Etherscan shows that the largest private wallet holds only 0.7% of supply.
BONE is predominantly bought through the ShibaSwap DEX itself. The centralised exchange MEXC also provides the BONE/USDTR pair, although CoinMarketCap gives it a poor liquidity rating of 106/1000.
Recent price action
BONE hit a peak of $3.33 on 2 November 2021 before moving into a clear downtrend for the rest of the year, which continued throughout January 2022. The token was brushing against the $0.50 price point by the end of the month, before some buying pressure kicked in.
By 9 February, BONE had rebounded back to $0.97, narrowly skirting the $1 price point. Despite trading lower at $0.84 on 16 February, BONE had climbed from $0.77 only two days before. Trading activity on 16 February is mixed, with selling pressure being observed at the time of writing.
What do the forecasters say?
PricePrediction.net’s Bone ShibaSwap price prediction for 2030 is $25.71, making for potential 30-times returns. Shorter term BONE price prediction targets are fairly bullish too, suggesting $3.75 for 2025 and $1.17 for the end of 2022 as viable targets.
On the other hand, WalletInvestor’s Bone ShibaSwap price prediction is bearish. The digital forecaster believes that BONE could drop by -87% come February 2023. Price targets are as low as $0.015 for the end of 2025.
Sitting in the middle, DigitalCoinPrice’s Bone ShibaSwap price prediction for 2025 is $1.75, making for moderate returns of 110%. The forecaster’s Bone ShibaSwap price prediction for 2022 is $1.13.
According to the BONE price prediction at CoinArbitrageBot, the token could hit $2.90 over the next 12 months, making for returns of 246%. The forecaster’s BONE coin price prediction for 2025 is $12.28.
Keep in mind that these Bone ShibaSwap price prediction estimates are created through the use of algorithms that do not take certain market volatility concerns into account. They can be useful as a guide, but should not be used in place of genuine financial advice. Dzengi.com always recommends caution when investing in any cryptocurrency.
FAQs
BONE has a maximum supply of 250 million, of which fewer than seven million are in circulation.
Some market sentiment is negative, while other predictions suggest long-term gains are possible. Further independent research should be undertaken before making any investment.
The price forecasts are a mixed bag. Any potential investors are advised to consult an independent financial adviser before laying down any money.
SHIB is a more popular token for investing in the Shiba Inu universe. BONE is primarily used as a governance token by the ShibArmy.
Please note, as always, that this article should be used as an information resource and not taken as financial advice.
