Bone ShibaSwap Price Prediction: Further upside for OKX exchange-listed BONE token, key levels to watch

Bone ShibaSwap price is poised for a continued uptrend after a recent move by OKX exchange to list the BONE token. The decision came after the Seychelles-based crypto firm performed a poll, with users voting on their choice meme-themed token listed on the platform. Based on the results, the exchange’s ticker token, BONE, merited and its listing made OKX one of the largest holders.  

An excerpt from the press release from the exchange reads:

Thanks to the participation of community users, OKX's special voting event for 5 meme token projects has ended. The results of voting are hereby announced as follows:
Based on deposit voting, the top two projects are ArbDoge AI (AIDOGE), BONE ShibaSwap (BONE).

Bone ShibaSwap holdings soar after OKX listing

Etherscan data shows that OKX’s BONE token holdings skyrocketed by 400% in three days following the move. As of press time, the exchange’s wallets now control an astounding 7.85 million BONE, valued at around $8.38 million at current rates. The numbers make OKX the fourth largest BONE holder.

Furthermore, the exchange now controls around 3.41% of the total BONE supply, a striking increase attributed to large weekend deposits of BONE tokens as 378,342 tokens arrived on Saturday and a massive 5.87 million on Sunday.

BONE could explode a further 20%, these are the levels to watch

Following the listing, Bone ShibaSwap price appears ready for a further 20% breakout to $1.302. At the time of writing, BONE is auctioning at $1.055 after bouncing from the $0.930 support level on April 23. An increase in buying activity above this level could catapult the Shiba Inu ecosystem token toward its target.

For Bone ShibaSwap price to realize the gains, sidelined investors should leverage the entry points indicated by the Exponential Moving Averages (EMA) as this could increase bullish dominance over bears. The 50-, 200-, and 100-day EMA at $1.158, $1.166, and $1.214 are among the key levels to watch, marking points were bulish momentum could replenish.

Further north, Bone ShibaSwap price could tag the $1.302 resistance level, before a neck up to the $1.460 resistance level, or in highly bullish cases, tag $1.636.

BONE/USDT 1-day chart

On the flip side, profit takers could interrupt the current price action, causing Bone ShibaSwap price to retrace toward the $0.930 support level. This is also an area of interest, marking the invalidation point for the current bullish outlook. In the dire case, revisit the December lows around the $0.724 level.

Also Read: Can Shiba Inu rally price higher after BONE listing on Dubai-based exchange?