BONE Crypto Falls 10% Despite Positive Indicators; SHIB Follows Suit

Share on Facebook Share on Twitter

The Essentials in Brief

The cryptocurrency BONE may have difficulty experiencing a surge in the near future. Despite a bullish signal, BONE’s price movements could continue to remain bearish, as market indicators suggest. In recent days, the bearish sentiment around BONE has increased, and the value of SHIB has also fallen in the last 24 hours along with BONE.

BONE’s Position in the Bear Market

According to CoinMarketCap, BONE has fallen by more than 10% in the last 24 hours. At the time of reporting, the coin was trading at $1.18, with a market capitalization of over $270 million. Nevertheless, LUCIE, a popular X-handle that posts updates on the Shiba Inu ecosystem, revealed that BONE has a technical score of over 84. This suggests that the chances for the coin to get a bullish swing are high.

Is a Trend Reversal Possible?

Our analysis of the coin’s daily chart shows that its price has touched the upper limit of the Bollinger Bands. When this happens, it suggests that the selling pressure on an asset could increase, which can lead to a price drop. The possibility of an increase in selling pressure was confirmed by the Relative Strength Index (RSI), which was in the overbought zone.

Shiba Inu is Also Down

As the value of BONE fell, the network’s flagship token, Shiba Inu [SHIB], followed a similar trend. According to CoinMarketCap, SHIB had fallen by more than 1.4% in the last 24 hours. At the time of reporting, SHIB was trading at $0.00003821, with a market capitalization of over $22.5 billion.

Our Assessment

Despite the bearish indicators, there are some positive signs for BONE. For example, the MVRV ratio has been rising in recent days, and network growth was high, meaning more new addresses were created to transfer the token. In addition, the total number of coin holders has slightly increased in the past week. This could suggest that buying pressure is increasing, which could help the price of the coin in the coming days.

Sources

Dipayan Mitra, journalist at AMBCrypto. Edited by Ann Maria Shibu. Santiment, TradingView, CoinMarketCap.

Share on Facebook Share on Twitter

The 3 best crypto casinos

Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
99 /100
Excellent
Cryptocurrencies (24)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x deposit + bonus
40x free spins winnings
Minimum deposit 0.00034 BTC or equivalent
Maximum bet 0.00003 BTC or equivalent
Bonus validity 30 days to claim
14 days to wager
  • Minimum deposit: 0.048 BCH • 0.0068 ETH • 0.26 LTC • 154 DOGE • 20 USDT • 40 XRP • 180 TRX • 48 ADA • 0.04 BNB • 20 BUSD • 20 USDC.
  • Maximum bet per round: 0.005 BCH • 0.0007 ETH • 0.03 LTC • 15 DOGE • 2 USDT • 4 XRP • 19 TRX • 4.8 ADA • 0.004 BNB • 2 BUSD • 2 USDC.
  • Free spins are credited on “Max Miner” by Gamebeat, 20/25 free spins per a day.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 27. May 2024
Curaçao License
Curaçao
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Abby Richards on 27. May 2024
Curaçao License
Curaçao
Licence
100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (11)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 14 days for deposit bonus
7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Isabella Brown on 29. May 2024
Curaçao License
Curaçao
Licence

Latest News

Paula Winkler

Created by

After over 6 years in print journalism, I stumbled into the iGaming niche in 2017. One thing became evident to me quickly: Online Casino Reviews need more transparency! I joined the Kryptocasinos.com Team in 2023 and are the main expert for all topics related to „Player Security“.
In my private life, I am an active member of the volunteer fire department and enjoy the outdoors with my dog Ruby.
Reviewed by
Nerd of Numbers

Last update: 12. March 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.