The SHIB Army Campaigns for BONE Listing on Binance
A new campaign led by the passionate Shiba Inu community, known as the SHIB Army, is gaining traction. Their goal? To get Bone ShibaSwap (BONE), the utility token of the Shibarium Layer 2 blockchain, listed on the renowned crypto exchange, Binance.
Will Binance List Shiba Inu’s BONE?
Despite the excitement surrounding BONE and its crucial role in the Shibarium ecosystem, it has yet to be listed on Binance. However, there is a glimmer of hope through Binance Futures’ innovative platform, Binance Next Pool, which allows community-led campaigns to influence potential token listings.
The marketing lead of the Shiba Inu team, Lucie, has been leading the charge. She urged the SHIB Army to use their collective power and vote for BONE’s inclusion on Binance. The call to action was met with enthusiasm from the community.
The Mechanics of Binance Next Pool
- Participants acquire “Picks” at a cost of 1 USDT each.
- Picks can be allocated towards predicting which tokens will be listed on the Binance USD Margin futures market.
- Each participant can invest up to 100 Picks per potential listing.
This system encourages strategic participation and engagement from community members. As of now, Shiba Inu’s BONE has garnered an impressive 19,389 Picks in the nominations pool. While it currently trails behind other tokens like Delysium (AGI) and Bittensor (TAO), there is still an opportunity for the SHIB Army to make a difference.
Members of the Shiba Inu Army have been vocal about their dedication to the cause. One community member shared their commitment of 20 Picks towards BONE, along with a message urging others to do their part.
However, it’s important to note that Binance maintains a neutral and thorough listing review process. While the Next Pool allows the community to show support for tokens, it does not guarantee automatic listing on the Futures market. Binance evaluates all assets based on a meticulous and unbiased criteria to ensure integrity and due diligence in their decision-making.
BONE Price Analysis
The price of BONE has been performing strongly recently. In the past 24 hours, it has gained 20%, and over the past seven days, it has seen a 75% increase. The 1-day chart of BONE/USD indicates that the Shibarium utility token is on the cusp of a breakout.
When examining the Exponential Moving Averages (EMA), there is a clear upward trend with the 20-day EMA ($0.8566) positioned above the 50-day ($0.7335), 100-day ($0.7414), and 200-day ($0.7717) EMAs. This bullish crossover typically signifies growing positive momentum. However, the failure to close above the channel raises some doubts about the immediate continuation of the uptrend.
On the daily chart, there is a descending channel that has contained BONE’s price action since February 2023. The recent price spike above the upper edge of this channel indicates an attempted breakout. However, the inability to close above this level suggests that the channel’s resistance remains strong, potentially pushing BONE’s price back into its previous range.
It is worth noting that the RSI reading is currently at 74.56, flirting with overbought conditions. This may indicate an upcoming correction or consolidation phase. The RSI’s position further emphasizes the rejection at the channel’s resistance level, suggesting that the asset’s price may be overextended.
Hot Take: The SHIB Army’s Push for BONE on Binance
The SHIB Army is making a concerted effort to get Shiba Inu’s BONE listed on Binance. Through the Binance Next Pool campaign, they are rallying the community to vote for BONE’s inclusion. While there are no guarantees, this campaign showcases the passion and dedication of the Shiba Inu community.
As the campaign continues, it will be interesting to see if the SHIB Army can influence Binance’s listing decisions. Regardless of the outcome, their efforts demonstrate the power of a united community in advocating for their preferred tokens.
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