BONE ShibaSwap: Is it a Mere Memecoin or a Utility Token?

• Explaining how Bone ShibaSwap aids Shiba Inu’s DEX problems
• Highlighting its future performance and scope of growth

In July 2021, Bone ShibaSwap (BONE) was introduced in the ShibaSwap exchange. Bone is a governance token that allows its holder to validate, vote and propose various future projects.

Bone ShibaSwap was developed by the same team that created Shiba Inu in 2020. The coin facilitates various incentivized functions. The current price of Bone is $0.8164, with a market cap of $187,697,590.

Shiba Inu launched Bone based on the ERC-20 token that validates transactions of ShibaSwap on the Ethereum network. CertiK audits all the tokens available in the Shib ecosystem. Available trading tokens include SHIB, LEASH, and BONE.

Bone’s maximum supply is 250 million coins, of which almost 92% is in market supply. Shiba Inu founder Ryoshi created Bone to reward its supporters who have staked their holdings on the Shib ecosystem. Simultaneously, Bone allows users to participate in governance activities.

Moreover, Bone also promotes activities like swapping, staking, and liquidating the tokens. This way, token holders can propose or vote on developments made to ShibaSwap through its own Doggy DAO protocol.

How does Bone help ShibaSwap compete with its rivals?

With Bone, a person can “Dig, Bury, Swap, Woof, Fetch and Utilize” ShibaSwap features. What it means is that one can encourage liquidity, stake their tokens, swap ERC-20 tokens and earn returns, migrate UniSwap V2 liquidity to ShibaSwap to earn more Bone tokens, and utilize Bonefolio analytics.

The bone acts as the middleman in establishing the link between traders who want to earn Bone by exchanging cryptos for Bone. This governance token generates rewards taking into considertion the quantum of tokens staked and duration of staking. Thus, users are encouraged to stake more of their holdings for longer durations to reap good rewards.

Bone also supports Shib: The Metaverse, a virtual world created by Shiba Inu. In this virtual world, users can purchase virtual plots and pieces of land by locking their LEASH tokens.

Furthermore, to give this project a real-world utility, Bone will be used as the primary digital currency for buying and selling virtual land. This way, token holders who want to become part of the project initially can contribute to the metaverse development.

Another advantage of using Bone is that the token allows rapid growth of the Shiba Inu interface. Bone plays a supporting role in helping Shibarium utilize EVM protocols to secure transactions and enhance the scalability of other digital assets.

Predicting the future performance of Bone ShibaSwap

Currently, Bone ShibaSwap is experiencing a bullish trend attracting high confidence levels across the listed exchanges. The current price is also rising at 0.10%. 

The reports suggest that by 2030, Bone could reach a high of $5.74. If the bullish momentum continues, the Shiba Inu token can skyrocket beyond the estimates and outperform its rival tokens.

$0.82 is needed to acquire one Bone token. Early estimates indicate that the token might experience a bearish sentiment in 2023, but the overall performance will remain positive.