BONE Hovers Near $0.70. Can it Breach $1 this Month?

Vinod Dsouza
bone token dollar 1
Source: Unsplash

Shiba Inu’s native token Bone is among the most-sought after cryptos in the market at present. The token which is trading in the indices with no utility will soon see itself centered around the upcoming SHIB Metaverse. In a recent update, the team confirmed that Shiba Inu, Bone, and Leash will be used in the Metaverse and will “Play a role as phases roll out.” All three tokens will have use-cases in the SHIB Metaverse while mainly Ethereum will be used for buying lands.

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The Metaverse will be an interactive and creative virtual world to explore, play around and have fun with. Nonetheless, many feel that the team has given more importance to Bone and Leash for the developments than Shiba Inu.

For instance, around 100,000 plots of land will be released in the Metaverse and those with Leash get priority access. 35,000 pieces of land will be open for viewing, bidding, and purchase with Leash. The rest of the lands will be open to the public stage-wise.

shiba inu lands metaverse shiberse
Source: Unsplash

Since the announcement, Bone spiked +19.8% in the last 30-trading days. It also reached a weekly high of $0.76 from a weekly low of $0.64. The token shot up 12 Cents this month after Bitcoin and the entire market showed signs of a recovery.

Also, those who invested in Shiba Inu are now considering investing in Bone and Leash to reap the benefits. Both the tokens are gaining popularity within the community, thus increasing their trading volume and market cap.

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Will Bone Breach the $1 Mark?

Shiba Inu
Source: Pixabay

Bone is displaying positive sentiments, and investors are looking at ways to purchase the token. As SHIB Metaverse approaches launch, the token might witness a rally. The demand for the token is in the making and its use-cases will soon be a reality.

When users begin transacting all the three tokens, SHIB, Bone and Leash in the Metaverse, its price could gradually spike. However, in the short term, which is this month, Bone is unlikely to cross the $1 mark. The market which was up this week, is suddenly dipping and Bitcoin is in the red. BTC can drag the market down along with it and Bone could reach a new weekly low.

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Once that occurs, Bone needs to claw back to the $0.70 mark first and have many more hurdles before reaching $1. However, if the developers confirm that the Metaverse will be released this month itself (which is unlikely), Bone could have a chance of hovering around $1.

At press time, Bone wast trading at $$0.66 and is down -3.06% in the 24-hours day trade.