Bone ShibaSwap Defies The Odds Jumps 12% Even As Bitcoin, Ethereum, Dogecoin Take A Hit
Portfolio Pulse from Mehab Qureshi
Bone ShibaSwap (CRYPTO: BONE) recorded a 12% increase, defying the overall cryptocurrency market trends. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) experienced a decline of over 2%. BONE's trading volume surged by more than 90% in the last 24 hours, to $23 million. The burning mechanism of SHIB token contributes to its scarcity, driving its value. New BONE tokens are still being introduced into circulation through a smart contract, which remains under the control of the ShibaSwap team.
August 25, 2023 | 4:26 am
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POSITIVE IMPACT
Bone ShibaSwap (BONE) saw a 12% increase and a surge in trading volume by more than 90% to $23 million.
The increase in BONE's price and trading volume indicates a strong demand for the token. The burning mechanism of SHIB token, which contributes to its scarcity, could also be driving its value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The burning mechanism of SHIB token contributes to its scarcity, driving its value.
The burning mechanism of SHIB token, which contributes to its scarcity, could be driving its value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Bitcoin (BTC) experienced a decline of over 2%.
The decline in Bitcoin's price indicates a bearish market sentiment for the token.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Dogecoin (DOGE) experienced a decline of over 2%.
The decline in Dogecoin's price indicates a bearish market sentiment for the token.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Ethereum (ETH) experienced a decline of over 2%.
The decline in Ethereum's price indicates a bearish market sentiment for the token.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60