Shiba Inu: Here’s When BONE Could Rally 240% And Hit $3.2

Paigambar Mohan Raj
Shiba inu
Source – NewsBTC

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.

Source: CoinGecko

Also Read: Shiba Inu: How Much SHIB is Needed To Make $1 Million at $0.05?

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?

Shiba Inu
Source – Shiba Inu

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%.

Source: CoinCodex

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.

Also Read: Shiba Inu (SHIB) To Hit $0.0001 in 2024: Predicts ChatGPT

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, among the top 10 exchanges. Furthermore, the asset may experience a price surge if the Shibarium network gains more mass adoption.