This year has been a tough sail for Bone ShibaSwap since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of BONE.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Bone ShibaSwap to reclaim its all-time high in 2023? Continue with the article to learn about Bone ShibaSwap price analysis and prediction by Coinpaper.
Read also: Shiba Inu’s main financial components, SHI, Shibarium, and SHIBFE near completion
What is Bone ShibaSwap?
BONE token is Shiba Inu's governance token that allows SHIBArmy to vote on community proposals, with the weight of the vote being proportional to the number of coins held. Along with SHIB and LEASH, it powers ShibaSwap, a DeFi platform that belongs to the Shiba Inu ecosystem and enables users to DIG (provide liquidity), BURY (stake), and SWAP tokens to gain WOOF Returns.
Bone ShibaSwap (BONE) price
Currently, Bone ShibaSwap Price is USD. BONE has a circulating supply of coins and a total supply of . If you are looking to buy or sell Bone ShibaSwap, Uniswap is currently the most active exchange.
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Bone ShibaSwap price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Bone ShibaSwap 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Bone ShibaSwap price at $1.03 to $1.18. On the flip side, a fading interest in the new meme coin may push the price of Bone ShibaSwap to $0.65-$0.42 lows.
Bone ShibaSwap price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Bone ShibaSwap (BONE) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Bone ShibaSwap to climb as high as $1.56, with the more distant prospect of reaching $2.09 in 2024. The bearish scenario is likely to see Bone ShibaSwap (BONE) trading between $0.61 and $0.52 in 2024.
Bone ShibaSwap price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Bone ShibaSwap (BONE) price analysis and prediction is based on pure speculation and observation of Bone ShibaSwap historical price movements.
Our Bone ShibaSwap 2025 price forecast expects BONE to rally towards $2.81 and reach $3.32 by the end of the year. The bearish scenario would see Bone ShibaSwap at $1.23 to $1.06.
Bone ShibaSwap (BONE) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Bone ShibaSwap is neutral. In 2026, we expect Bone ShibaSwap to reach at least $4.96 before climbing higher to $5.61. In case of a bearish scenario, Bone ShibaSwap may fall to $3.21.
Is Bone ShibaSwap (BONE) a good investment?
Whether BONE token is a reasonable investment for you depends on your risk profile and how much you intend to invest. As a part of the SHIB meme token ecosystem, Bone ShibaSwap is extremely volatile, which makes it a very risky investment — its profit potential is huge, but so is the potential downfall. Still, it can be a nice addition to your cryptocurrency portfolio if you believe in the future of Shiba Inu and Ryoshi’s vision.
Bottom line
Are you ready to invest in Bone ShibaSwap? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy BONE from many crypto exchanges, including Uniswap
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Bone ShibaSwap?
Shiba Inu (SHIB) and Bone ShibaSwap (BONE) were both created by an anonymous individual (or group) called “Ryoshi”
What was the all-time high for Bone ShibaSwap (BONE) ?
The all-time high price of Bone ShibaSwap is $ on 2021-07-07
