- Binance recently announced a price tracking feature for Shiba Inu ecosystem’s BONE, ShibArmy argues that a listing is now imminent.
- Shiba Inu coin price posted nearly 30% gains over the past week, beating competitor Dogecoin and altcoins in the bear market.
- Analysts are bullish on Shiba Inu price and predict a continuation of the uptrend.
Shiba Inu coin price exploded over the past week, beating the crypto bear market and competitor Dogecoin. The ShibArmy believes Shiba Inu ecosystem’s BONE listing on Binance is imminent as the cryptocurrency exchange platform adds a price tracking feature for the token.
Also read: Billionaire supports meme coin, triggering Shiba Inu price rally
Binance adds price-tracking feature for BONE
The world’s largest cryptocurrency exchange platform recently added the price tracking feature for BONE. Binance’s page that lists BONE price clearly mentions that the coin is not listed on Binance for trade and service. Binance recommends that users buy BONE using Ethereum on a decentralized exchange platform.
BONE is the Shiba Inu ecosystem’s governance token and will soon be used to pay transaction costs on layer-2 solution Shibarium. The token has attracted the attention of investors since ShibArmy is awaiting the rollout of Shibarium in the Shiba Inu coin ecosystem.
The ShibArmy is convinced that a BONE listing on Binance is imminent. This speculation has triggered a bullish sentiment among Shiba Inu coin holders and fueled a double-digit price rally over the past week.
Binance has made no announcement on BONE’s listing and limited the coin’s exposure to users on the platform to the price-tracking feature.
Game developer invites users to burn Shiba Inu coins
Travis Johnson, an independent game developer, has invited users to sign up for an Audible trial and the commission raised through Amazon’s referral program will be used to burn Shiba Inu coins. So far Johnson has raised enough funds to burn 1 million Shiba Inu coins.
Johnson told followers on Twitter that the quantity of Shiba Inu will spike as sign-ups hit 100, 1,000 or higher.
Opportunity for anyone interested:
— SHIB Super Store (@shib_superstore) June 23, 2022
Amazon is offering a $5 Bounty for anyone who signs up for a free trial of Audible. This will be used to burn SHIB, every sign up would burn ~500k SHIB
Try it out for a month, and if you don't like it, cancel it! https://t.co/ULUVzjMEnu pic.twitter.com/lIfl0mKttG
Shiba Inu burn rate climbs 1,405%
With a higher number of Shiba Inu coins being burnt every day, there is a massive spike in the burn rate. Based on data from the Shibburn portal, 57.4 million Shiba Inu coins were burnt in the past 24 hours.
Burning pulls the coins out of Shiba Inu’s circulating supply and sends them to a dead wallet, permanently removing them from circulation. The spike in burn rate has fueled a bullish sentiment among Shiba Inu holders as it increases the value of the leftover tokens.
So far, 410.37 trillion Shiba Inu coins have been burned, according to Shibburn.
Shiba Inu coin burn data
Ethereum whale scoops up $1.57 million worth of Shiba Inu coins
In the recent bloodbath, an Ethereum whale identified as “BlueWhale0073” scooped up $1.57 million worth of Shiba Inu coins. BlueWhale0073’s purchase of 163.2 billion Shiba Inu tokens has increased the SHIB holdings in the investor’s portfolio.
Large wallet investors have consistently accumulated Shiba Inu coins through the dip in price and increased the number of SHIB in their portfolios. At the time of the whale’s purchase, Shiba Inu had witnessed a small dip in its price. However, the meme coin continued to trade 87.3% below its all-time high.
Analysts identify bullish signals on Shiba Inu price chart
Crypto analysts at InvestingCube identified a clear break out of the downtrend. With a sudden increase in trade volume, analysts have confirmed Shiba Inu’s breakout and believe that bulls could target $0.00001200 and $0.00001585.
SHIB-USDT 1-day price chart
FXStreet analysts believe Shiba Inu price could face a challenge during its recovery. For more information, watch this video:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Crypto Gainers Price Prediction: WIF, SPX, XLM - Meme coins shine as Bitcoin hits record high
Cryptocurrency market sentiment improves as Bitcoin reaches a new all-time high, catalyzing a sharp recovery in meme coins such as Dogwifhat, SPX6900, alongside the payment token Stellar.

GMX slumps following $40 million hack on V1 platform
GMX experienced a double-digit decline on Wednesday after the exchange lost $40 million in an exploit targeting its V1 platform and GLP pool on Arbitrum, while its V2 platform remained unaffected.

Tokenization could pull in 5% of $257 trillion global stock, bond markets: Bitwise
Tokenization of stocks and bonds is expected to capture 1-5% of the combined value of the bond and stock markets, currently at $257 trillion, according to Bitwise executives Matt Hougan and Ryan Rasmussen in a note to investors on Wednesday.

Ethereum Price Forecast: ETH surges 5% on Bitcoin's all-time high and GameSquare treasury announcement
Ethereum rallied past $2,700 alongside the broader cryptocurrency market on Wednesday, notching a 5% gain following Bitcoin's surge to a record high near $112,000. The rise in the market underscores Bitcoin's strong correlation with top cryptocurrencies.

Bitcoin: BTC ends Q2 with 30% gains, Standard Chartered eyes $200K by year-end
Bitcoin (BTC) closed a strong second quarter (Q2), recording nearly 30% in quarterly gains amid rising corporate and institutional demand and bullish market sentiment.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.