Bone ShibaSwap (BONE) is a cryptocurrency project that serves as the governance token in Shiba Inu universe, the ecosystem made to facilitate the growth of the SHIB Army community.
Bone token allows SHIB Army members to guide the direction of this ecosystem and reap the rewards for their participation. BONE is an ERC-20 token traded on the Ethereum blockchain network.
What is Bone ShibaSwap?
Bone ShibaSwap (BONE) is the ShibaSwap decentralized exchange ( DEX) governance token with voting functionality. BONE allows the Shiba Inu community, known as Shib Army, to vote on upcoming proposals, submit proposals, and access future NFTs. The more BONE tokens users have, the more weight their vote carries in this future endeavor.
BONE is the Ethereum-based token in the Shiba Inu universe, including Shiba Inu (SHIB) and Doge Killer (LEASH) tokens. According to the Shiba Inu website, SHIB is the “Dogecoin (DOGE) killer.” Due to its popularity, the project is the second-largest dog-inspired memecoin in the crypto space.
The ShibaSwap exchange was launched on July 7, 2021, allowing platform users to trade their SHIB tokens for other cryptos.
What are the benefits of Bone ShibaSwap?
BONE Tokens serve several purposes within the Shiba Inu ecosystem. Holders of BONE can participate in governance by voting on critical decisions. Additionally, BONE Tokens can be staked or utilized for liquidity provision on ShibaSwap, which can lead to rewards.
These Tokens also serve as the ‘gas’ in Shibarium Layer 2 blockchain solution, which aims to reduce transaction costs and increase scalability for the SHIB Army.
The Tokens have a total supply of 230 million coins and are designed to fit perfectly between the previous two tokens regarding circulation supply. This makes BONE Tokens scarce and valuable for the SHIB Army.
Bone Token Target $100
That is a very ambitious target. Bone ShibaSwap (BONE) is currently trading at around $0.80, which means it would need to increase by 12,400% to reach $100. That is not impossible, but it is somewhat unlikely shortly.
To hit $100, BONE crypto must have a market cap of $23 billion, assuming a fixed supply of 230 million coins. That would make BONE Tokens one of the top 10 cryptocurrencies by market cap, surpassing well-established projects like Polkadot, Solana, and Dogecoin.
BONE Tokens would need massive adoption and demand from the crypto community and beyond to achieve such a high valuation. In addition, BONE Tokens would also need to overcome various challenges and risks, such as competition from other DEXs and governance tokens, regulatory uncertainty, network congestion, security breaches, and market volatility.
Therefore, while BONE Tokens can hit $100 someday, it is very improbable in the short term. It would require a lot of innovation, development, marketing, and luck for BONE Tokens to reach such a high price level.
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