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ShibaSwap and Bone ShibaSwap (BONE), the DAO and gas fee token in the Shibarium ecosystem, have been making waves recently. BONE has become the top gainer among the top 100 cryptocurrencies, with a weekly gain of 24% as excitement surrounding the Shibarium launch continues to grow.
BONE Becomes the Top Gainer of the Week
According to the data from leading price tracking platform CoinMarketCap, BONE has seen a 24.67% increase in the last seven days. This impressive surge has made the Shiba Inu ecosystem token the top gainer among the top 100 cryptocurrencies last week.
In particular, BONE has been outperforming other leading cryptocurrencies such as XDC Network (XDC) and Maker (MKR), which took the second and third spots respectively with gains of 20.34% and 8.64% in the last seven days. Optimism (OP) and Conflux (CFX) are currently ranked fourth and fifth.
BONE has outperformed the market’s largest assets, including Bitcoin (BTC) and Ethereum (ETH), in the past week. Taking advantage of the recent rally, BONE surpassed $1.6 for the first time in about five months. Crypto Basic highlighted the latest surge as BONE reclaimed the $1.4 region last month.
BONE Price Analysis
Following the report, the token continued its upward trend and embarked on a journey towards $2. BONE reached $1.74 yesterday but faced resistance at that price level. It retraced to $1.56, but later recovered to close the day at $1.63 with a 1.10% loss.
The loss on August 2 disrupted BONE’s seven-day winning streak. However, despite the recent decline, the asset continues to trade above $1.6.
BONE is currently trading at $1.63. On the 24-hour chart, the token is in a comfortable position and its nearest support level is at 1.49, which is the Fibonacci retracement level. If bears break below this level, support zones at $1.42 and $1.36 will come into play.
