SHIB News: BONE Token Surges and Shiba Inu Eyes Potential Price Rise Comparable to Dogecoin

The latest developments in the Shiba Inu ecosystem have cryptocurrency investors buzzing with excitement. The governance and gas token of the ecosystem, BONE, has seen a significant surge, signaling a potential uptrend. Moreover, there’s speculation about the potential price of Shiba Inu if its market capitalization were to equal that of Dogecoin.

BONE Surges as Bullish Breakout Signals More Upside

BONE, the governance and gas token of the Shiba Inu ecosystem, has broken out of consolidation, surging past key resistance levels. The TradingView chart for BONE/USDT reveals a significant bullish signal after a prolonged period of consolidation. The price surge has pushed BONE well above the upper Bollinger Band, signifying strong buying pressure and the start of a new uptrend.

Shiba Inu: Potential Price if Market Cap Equals Dogecoin

Shiba Inu (SHIB) has seen immense success since its launch in August 2020, with its price skyrocketing during the 2021 bull run. While it has struggled to regain the same momentum since its peak, the asset continues to attract fans and investors. Assuming SHIB’s market cap hits $26 billion, which is close to Dogecoin’s (DOGE) current market cap, and its circulating supply remains the same at 589 trillion, the price of each SHIB token will hit $0.0000441, marking a 236.38% increase from its current price.

3 Reasons Why the Shiba Inu (SHIB) Price Might Rally Soon

SHIB’s price has recorded only a 1% daily increase, but essential factors hint at a potential resurgence. The burn rate has increased by over 8,000%, and the weekly exchange netflow suggests reduced immediate selling pressure. While the cryptocurrency market has seen a revival, with Bitcoin (BTC) rising above $87,000 and Ethereum (ETH) challenging $2,100, SHIB has not followed the overall trend, currently trading at roughly $0.00001312. Several factors could still influence SHIB’s price in the future.

Shiba Inu ETF Proposal—Could This Be SHIB’s Breakout Moment?

A Shiba Inu marketing executive has sparked talk about a possible ETF for the popular meme cryptocurrency. Her recent statements come as the token saw its burn rate jump by more than 8,000% in a single day, according to market watchers. Lucie, who serves as a marketing lead for Shiba Inu, posted on X that SHIB has the right qualities to become an ETF. She highlighted that the cryptocurrency is currently available on over 110 exchanges with 212 trading pairs, making SHIB a strong candidate for an exchange-traded fund. ’Because SHIB isn’t just a meme—it’s decentralized, community-driven, and built to last,’ Lucie wrote in her post.