The Bone token needs to grow by 70 times to reach $100. At $100, Bone’s market cap would be $21 Billion. If it were to grow at the rate of 25% every year, it would take Bone 20 years to reach $100.
There are just a handful of precedents of Cryptos rising to $21 Billion. Most of these were launched when there was little competition. Bone being part of the Shiba Inu group of Tokens is still a work in progress when it comes to Use cases. On top of this, Layer-2 blockchains have been struggling during the last few months with many questioning the need for Layer-2 blockchains.
Still, even an optimistic forecast is unlikely to predict a 70x growth to $21 Billion anytime soon. Primarily because of competitive forces. Bone could do $100 if there were 75% fewer coins. That would be more realistic.
Check out the latest Bone Price Predictions and analysis on whether it is a good investment
Bone | Shiba Inu | |
Last 7 Days | +24.9% | +9.7% |
Last 1 Month | +11.3% | +15.3% |
Last 12 Months | -14.8% | -2.5% |
Since Shibarium Launch (Aug 17th, 2023) | -43.0% | -1.3% |
New Buy Rating = Buy% – Sell%
The most optimistic forecast is unlikely to predict a 700x growth to $210 Billion anytime for $Bone soon. This is Primarily because of competitive forces. While Bone is the gas token for Shibarium, Shibarium itself will be in heavy competition versus numerous Layer-2 blockchains. Bone could do $1000 if there were 95% fewer coins. That is unlikely anytime soon.
To reach a price of $10, BONE ShibaSwap needs to grow by just 7 times. That translates to a Market cap of $2.1 Billion. $Pepe recently achieved the goal and so can Bone. However, Bone will need extraordinary support from Whales and Shiba Community to hit the target soon.
UTC: Feb 23rd, 2024 03:48 AM
Overall Outlook | Neutral |
1. Market’s Wisdom | Neutral |
1a. Market Data | Neutral |
1b. Technical Recommendation | Neutral |
2. Crowd’s Wisdom | Neutral |
2a. Social Media Buzz | Steady |
2b. Social Media Sentiment | Steady |
Shiba Inu was launched merely as a meme coin which was completely run by the community. However, with time, Shiba Inu has focused on increasing its utility. It has launched ShibaSwap (native decentralized exchange), Shiboshis (an NFT collection), and Shibarium (a layer 2 blockchain), meaning that Shiba Inu has diversified itself in various fields and has more utility in comparison to any other meme coin in the market (such as Dogecoin).
ShibaSwap is a decentralized exchange that aims to provide a secure place for trading valuable crypto assets while remaining decentralized. It comprises three tokens: SHIB, LEASH, and BONE, and allows users to DIG, BURY, and SWAP tokens to gain rewards through its income reward system.
With the launch of Shibarium, Bone could be classified as a moderate case for Investment.
Shiba Inu Price Prediction
Shiba Inu price prediction after Shibarium launch: Will Shiba Inu Price rise 60%?
BONE’s price is expected to rise to a maximum price level of $5 by the end of 2025 and can reach an average price point of around $4 during the year.
As per the BONE price prediction, the BONE token is expected to reach a maximum price level of $37 and a minimum price level of $30 by the end of 2030.
BONE tokens can be bought on many centralized and decentralized crypto exchanges, including CoinEx, Jubi, SuperEx, BitMart, MEXC, BKEX, Uniswap and SuhsiSwap.
Here are the general steps you can follow to buy BONE tokens:
Will Shiba Inu Coin reach $1000, $100?
~Charu Taneja
Note: collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.
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