Bone ShibaSwap [BONE] Loses Its Top 100 Spot: Is SHIB at Risk?

• Bone ShibaSwap [BONE], a token in the Shiba Inu [SHIB] ecosystem, recently made it to the list of the top 100 cryptocurrencies by market capitalization.
• However, BONE’s rank has been declining and at press time, it was at the 104th position in terms of market capitalization.
• Though BONE’s on-chain performance is commendable, its overall health doesn’t seem to be in a good state due to bearish exchange flows and decreased whales‘ confidence.

Bone ShibaSwap [BONE] Makes It To Top 100 Cryptocurrencies

Bone ShibaSwap [BONE], a token in the Shiba Inu [SHIB] ecosystem, recently made it to the list of the top 100 cryptocurrencies by market capitalization after announced that it had listed BONE on its platform. At press time, BONE was trading at $1.58 with a market capitalization of over $363 million.

On-Chain Performance Remains Commendable

Despite an overall decline in BONE’s price, its on-chain performance remained commendable on several fronts. For instance, gas used by the BONE contract went up in the last few weeks which represented an increase in adoption for this token. Furthermore, SHIB also seemed bullish as per its own set of on-chain metrics.

Overall Health Declines

However, despite these positive developments, BONE’s overall health did not seem to be in a good state when considering certain factors such as exchange flows and whales‘ confidence level towards this token. Exchange inflow for BONE spiked while exchange outflow declined suggesting that sellers were dominating the space while whales‘ confidence also seemed to have diminished as supply held by top addresses dropped off over past week resulting in further bearish sentiment around this token.

SHIB Investors May Be Worried

SHIB investors may also be worried since their favorite meme coin registered similar price decline due to current bearish market sentiment. At press time SHIB was down more than 4% compared to yesterday’s price making many investors nervous about their portfolios returns going forward.


Despite initial hype surrounding Bone ShibaSwap [BONE], its rank among top 100 cryptos has been steadily declining due to various factors such as overall bearish sentiment and reduced investor confidence which have resulted in lower prices for this token compared to previous levels before entering top 100 list . Although its on-chain performance remains commendable , broader crypto industry seems less enthusiastic about this asset resulting in lacklustre demand from buyers side thus far making it difficult for any significant upside gains going forward .

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