Shiba Inu’s BONE Token Skyrockets More Than 200% Following Listing on BlueBit.io
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Bone ShibaSwap (BONE) has been increasing at an accelerated rate since Aug 19. With its $2.10 high on Aug 30, it moved above a crucial Fib resistance level.
BONE is the governance token of the ShibaSwap ecosystem. It allows holders to vote on proposals, with the weight of their vote being proportional to the amount of their holdings.
Since the beginning of the year, the price had struggled to break out from the $1.20 horizontal resistance area. During this time, it made three unsuccessful breakout attempts.
However, the price initiated a rapid upward movement on Aug 19 and managed to successfully break out on Aug 29. Throughout this upward movement, BONE increased by 200% in 10 days and resumed its upward movement on the 11th day. The acceleration of the upward movement over the past two days aligned with the listing of BONE in the BlueBit exchange.
It is currently trading at the 2.61 external Fib retracement resistance at $2.10. If successful in moving above it, the next resistance would be at $2.65, created by the 3.61 external Fib retracement resistance level.
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