The whole world has been waiting for the release of Shibarium. As the wait gets longer, the Shiba Inu ecosystem has been longing to witness some positive rally regarding the SHIB price. In the midst of this, BONE, a sample of the Shiba Inu ecosystem, was seen to thrive. But why is BONE raking in more profit than Shiba Inu?
Shibario, the Layer 2 upgrade that is on the way is expected to increasingly use the BONE token. While SHIB will certainly have some role to play, BONE will take the lead. Therefore, BONE could pocket more profit than Shiba Inu this year.
After a good start to 2023, most coins on the market were back in a spiral. BONE, however, managed to walk away from this notion whenever the SHIB network made a Shibarium-related announcement. With the actual release of Shibarium, BONE is expected to skyrocket.
In addition to this, BONE has been be listed on various platforms. This could also add to any potential gains.
Can BONE claim $2 in the short term?
BONE managed to rally to a high of $2.05, a couple of days ago. But the asset was unable to hold above the $2 level. At press time, the asset was trading at $1.52 with a daily drop of 0.41%.
According to the daily chart for BONE, the asset is struggling to break above $2 as it acts as a prominent resistance line. But, the MACD indicator was in a bearish cross. This further highlighted the possibility of the asset falling to $0.74 or even $0.63, which have been important lines of support.
However, this notion could be reversed after the release of Shibarium.
Can SHIB pocket any profit from the Shibarium launch?
Shiba Inu has a pattern to BONE. But unlike BONE, SHIB hasn't managed to pocket the same level of profit as its descendants. At press time, the meme coin was trading at $0.00001106 with a daily gain of 0.36%.
As seen in the chart above, SHIB had increased selling activity. The Relative Strength Index [RSI] indicator suggested that the sellers were in the SHIB market. The RSI marker was even heading towards the oversold zone.
When these two assets are compared, the chances of BONE rising are much higher than those of SHIB.
