The Shiba Inu ecosystem received a positive jolt on July 3rd, 2024, with the announcement of BONE perpetual trading on leading Canadian exchange SuperEX. This news, revealed by Shiba Inu’s marketing lead Lucie, has sparked a wave of optimism within the crypto community.
The BONE/USDT perpetual contract went live on July 4th, 2024, at 3:00 UTC. BONE, the governance token of ShibaSwap, serves a dual purpose: functioning as Shibarium’s gas fee token and empowering holders with voting rights on the ShibaSwap platform.
This development holds significant potential for BONE. SuperEX boasts a sizable user base, with nearly 350,000 followers on their X handle. The introduction of perpetual trading, offering leverage of 1-10x, could attract a wider range of traders and potentially increase BONE’s liquidity and overall market presence.
The timing of this listing adds another layer of intrigue. It coincides with Shytoshi Kusama’s post on X regarding the Blockchain Futurist Conference in Toronto, Canada. This confluence of events has fueled speculation within the crypto sphere, with many anticipating a positive impact on BONE’s price.
Historically, perpetual listings have been known to trigger upward price movements for various tokens. Recent examples include Coinbase’s perpetual listings for SHIB, FLOKI, and BONK, all of which witnessed surges following their respective debuts. While past performance doesn’t guarantee future results, this trend instills a sense of optimism among BONE holders.
However, despite the excitement surrounding the perpetual listing, the BONE price experienced a slight dip of 1.93% to $0.4822 at the time of writing. This price movement aligns with a broader market trend, as the SHIB token and LEASH token within the Shiba Inu ecosystem also saw price declines.
Crypto enthusiasts remain cautiously optimistic. The perpetual listing could still be a catalyst for a price increase. Conversely, the current Relative Strength Index (RSI) of around 36 suggests potential downward pressure on the asset in the near term. A further price drop could lead to oversold territory, potentially paving the way for a rebound.
Only time will tell how the perpetual listing will ultimately impact BONE’s price. However, this development undoubtedly marks a significant step forward for the Shiba Inu ecosystem, potentially attracting new investors and propelling BONE towards wider adoption.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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