Shiba Inu’s (SHIB) governance token, Bone ShibaSwap (BONE), has witnessed a 1.3% rally in the daily charts, a 6% rally in the weekly charts, and nearly 60% over the previous month. However, the asset is still down by 20.5% in the 14-day charts and over 21% since March 2023.
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BONE is also the gas token for SHIB’s Shibarium layer-2 network, making it a central part of the SHIB ecosystem. Despite the correction, some analysts anticipate BONE to reclaim the $3 mark soon.
When will Shiba Inu’s BONE token hit $3.2?
According to CoinCodex, Bone ShibaSwap (BONE) will witness a massive rally over the next few weeks. The platform anticipates BONE to $1.2 by the end of this month. Moreover, CoinCodex predicts BONE to hit $3.23 by Apr. 19, 2024. Reaching $3.23 from current levels would translate to a growth of about 243%.
Telegaon predicts Shiba Inu’s BONE token to hit a maximum price of $3.23 in 2024. Going by Telegaon’s estimates, BONE may witness a correction after its April high. The predicted April rally could be due to Bitcoin’s (BTC) halving next month, which may trigger a market-wide rally.
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However, BONE is still down by nearly 94% from its all-time high of $15.50, which it attained in July 2021, over two years ago. According to Telegaon, BONE won’t reclaim its 2021 peak till at least 2028, predicting a maximum price of $16.61 for the year.
However, there is a possibility that Shiba Inu’s BONE token will rally higher than predicted under certain factors. Firstly, the asset needs more listings among top exchanges, such as Binance. The asset is currently only available on OKX and Gate.io, among the top 10 exchanges. Furthermore, the asset may experience a price surge if the Shibarium network gains more mass adoption.