- Shiba Inu’s marketing lead, Lucie, highlighted a new development concerning the BONE token on a prominent Canadian crypto exchange.
- The BONE/USDT pair has initiated perpetual trading, offering a new avenue for traders.
- Lucie’s announcement has created a buzz within the crypto community, anticipating potential price movements for BONE.
Discover the latest on Shiba Inu’s BONE token as it launches perpetual trading on a popular Canadian crypto exchange, sparking anticipation within the market.
Introduction to BONE Perpetual Trading
In a recent post on X, Shiba Inu’s marketing lead, Lucie, revealed significant news for the BONE ShibaSwap token. On July 3, one of Canada’s leading crypto exchanges, SuperEX, commenced perpetual trading for the BONE/USDT pair. This development has generated excitement across the crypto community, especially among supporters of the Shiba Inu ecosystem.
Details of the SuperEX Listing
SuperEX announced the start of BONE perpetual trading on July 4 at 03:00 UTC, spotlighting the BONE/USDT pair. BONE ShibaSwap, which functions as Shibarium’s gas fee token and ShibaSwap’s governance token, is set to benefit from this new trading option. The exchange offers leverage ranging from 1x to 10x to attract a wider user base while also ensuring periodic adjustments to manage market risks effectively.
Impact on the Crypto Market
The listing has captured the attention of the crypto world, particularly within Canada’s expansive crypto landscape. SuperEX’s significant presence, evident from its nearly 350K followers on social media, has further amplified the reach and potential impact of this listing. Historical trends suggest that such perpetual listings often lead to substantial price movements, creating an optimistic outlook for the BONE token.
Market Reactions and Performance
Despite the positive news, the BONE token experienced a 1.93% decline to $0.4822 in its early trading hours. The price fluctuations were observed with daily ranges between $0.4788 and $0.4952. This dip is in line with the overall market trend, where other Shiba Inu ecosystem tokens like SHIB and LEASH also saw slight declines. Market sentiment appears cautious, with the Relative Strength Index (RSI) indicating potential downside pressure, which could eventually lead to a price rebound should the asset enter oversold territory.
Conclusion
The launch of BONE perpetual trading on SuperEX marks a significant milestone for the Shiba Inu ecosystem. While the initial market reaction has been tepid, there remains a strong optimism for potential price movements. Investors and traders are keeping a close watch on market dynamics, anticipating how this new development will play out in the broader crypto market landscape.
