• Bone ShibaSwap [BONE] was recently in the limelight for entering the list of the top 100 cryptocurrencies in terms of market capitalization.
• Its rank, however, kept declining and at press time it was at the 104th position in the market cap table.
• Despite an increase in adoption, BONE’s overall health doesn’t seem to be in a good state with bearish sentiments prevailing in the market.
Bone ShibaSwap [BONE] Makes It To Top 100 Crypto List
Bone ShibaSwap [BONE], a token in the Shiba Inu [SHIB] ecosystem, recently made its way into the list of top 100 cryptocurrencies by market capitalization. This development further got a push when Crypto.com announced that it had listed BONE on its platform.
BONE Loses Its Spot On The List
Despite this development, BONE’s rank kept declining and at press time it was at 104th position in terms of market capitalization. CoinMarketCap data revealed that BONE registered a decline of more than 19% in last seven days and was trading at $1.58 with a market capitalization of over $363 million. Furthermore, BONE’s on-chain performance did not show any promising signs either as gas used by its contract went up while whales‘ confidence seemed to have declined due to decreased supply held by top addresses.
Is SHIB Investors Worried?
SHIB investors also had similar concerns as their meme coin registered a price decline due to bearish sentiment prevailing in the current crypto market situation. At press time, SHIB was down by more than 4% compared to previous week’s closing prices and had a total market capitalization of above $21 billion USD worth Bitcoin (BTC).
What Does The Future Hold For BONE & SHIB?
The future for both these tokens looks uncertain as both have been affected by bearish sentiment even though they have seen some success recently with increased adoption rates and better on-chain metrics respectively. The only thing that could be said right now is that investors should remain cautious while investing as these trends are subject to change any moment due to external factors such as news announcements or regulatory developments etc., which could cause sudden shifts in prices or demand for either token anytime soon.
In conclusion, Bone ShibaSwap [BONE] may have lost its spot on the list of top 100 cryptocurrencies, but SHIB still looks bullish based on its on-chain metrics despite being affected by bearish sentiments prevailing currently across crypto markets globally . However, investors should remain cautious and keep an eye out for news announcements or any other events which could affect prices positively or negatively anytime soon before making any investment decisions related to these tokens .