Bone ShibaSwap Price Prediction: 2024, 2025, 2030

BONE price prediction: Key highlights

1. Primary support and resistance levels

• On the daily time frame, $0.95 posed significant resistance to the price.
• $0.53 was established as the lowest price floor for the token.

2. Market sentiment

• The BONE market has been observed to be bearish in May 2024.

3. Predictive forecasts

• Our AI/ML predictive models anticipate BONE to attain an average trading price of $10 in 2027 and $180 in 2031.

Gain valuable insights on BONE via a detailed daily technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

BONE technical analysis: Memecoin mania seems to be over

Memecoins created quite a frenzy in 2024, garnering substantial attention. Nevertheless, the hype seems to have died down. Hence, Bone ShibaSwap price prediction for 2024 lays the groundwork for examining what lies ahead for this token.
 

The analysis period commenced with a significant rejection encountered at the $0.95 resistance level, marking the highest point within the given time frame. This resistance instigated a series of price declines, culminating in a fallback to $0.72 in early April. Despite initial bullish attempts to stabilize at this level, increased selling pressure transformed it into a resistance by the second week of April. 

Following this, the downtrend continued as BONE reached a period low at $0.53. Nonetheless, a swift recovery ensued. After a brief struggle to reclaim $0.59, the asset decisively moved past it to test $0.72.
 

This bounce was a reaction to the oversold condition, where traders and investors perceived the asset as undervalued and started buying it. Unfortunately, this rally also faced rejection, prompting another downturn.

Notably, the bulls managed to halt further declines at $0.59 towards the end of April. As the month concluded, brief dips below this level were observed. However, the bulls were determined to retain their footing and elevated the price back up. At the time of writing, the token was trading at $0.60.

In May, Shiba Inu (SHIB) enhanced its standing in the crypto ecosystem through Shibarium’s integration of ShibaSwap. This strategic move aims to boost functionality and alleviate transaction costs associated with layer-2 platforms while maintaining its foundational ties to the Ethereum (ETH) blockchain.
 

Amid these advancements, BONE is poised for increased demand due to its critical role in transactions and liquidity operations. This anticipated rise in utility may decrease the available supply, potentially leading to a price rally.

This rally could enable BONE to revisit and possibly surpass previous resistance levels. Notably, a substantial effort would be required for BONE to overcome the peak resistance, which stands as a major hurdle in its way to claim the critical $1 mark.
 

Conversely, if bearish pressure mounts, the current support at $0.59 is at a significant risk of giving way. Should this level fail, BONE might once again fall to its lowest recorded support, repeating the cycle of volatility.

Our advanced predictive models forecast that BONE's trading price will experience a significant pump over the next few years. According to these projections, BONE is expected to achieve an average trading price of $10 by 2027. This uptrend is anticipated to continue, with the price potentially soaring to an impressive $180 by 2031.

BONE's 2024 roadmap: Key indicators to watch and trade

• The Relative Strength Index (RSI) dropped below 50 in late March. It then entered the oversold territory as prices hit their lowest support level. Although there was a brief rebound where the RSI crossed above the 50 line, it could not sustain this peak and settled below the neutral threshold. At the time of this analysis, it stood at 42.69. This indicated that the selling pressure was high.
• These Bollinger Bands widened slightly as the price fell below the lower band in early April and then again in mid-month. Towards the end of the month, the bands began to contract again, signaling low volatility.
• The price generally remained below the 20-day Moving Average (MA), experiencing only temporary rises above it in late April and again in May. By the end of the analysis, the price retained its position below this MA. It highlighted the bears’ dominance in the market.
• Initially, trading volume was low. However, as the price continued to decline, intermittent spikes were observed. A significant increase in volume accompanied a partial price recovery in the latter half of April, but this was not sustained as further declines occurred.
• Another brief surge in volume was noted in May as the price dropped below its current support, but this was also short-lived. This reflected a lack of sustained investor confidence.