What is BONE Token? Exploring Shiba Project and its Token Price Performance

Shiba Project and Its Mission

Shiba Inu, a popular cryptocurrency, is based on the Shiba Inu dog breed. The Shiba Inu ecosystem is guided by principles outlined in the “woof paper,” which is similar to a white paper that outlines cryptocurrency project details and roadmaps. The SHIB token is an Ethereum-based ERC-20 token, and Ethereum was chosen as the platform because it is already established, secure, and allows for true decentralization. The Shiba Inu project is an experiment in decentralized spontaneous community building that aims to empower average people.

The Shiba Inu ecosystem includes several tools, such as ShibaSwap, a decentralized exchange (DEX) for decentralized finance (DeFi) that offers a secure platform for trading cryptocurrencies without the limitations of a centralized platform. Additionally, the Shiba Inu Incubator, previously known as the Artist Incubator, is a place where the creative individuals of the ShibArmy can express their artistic talents and build their artwork.

Another feature of the Shiba Inu ecosystem is Shiboshis, which are 10,000 unique and collectible non-fungible tokens (NFTs) permanently recorded on the Ethereum blockchain. These NFTs can be purchased and traded on the popular NFT platforms OpenSea and ShibaSwap without any fees.

Shiba Swap Main Features

ShibaSwap is a decentralized finance (DeFi) platform that provides several functions to its users, with a focus on the SHIB, LEASH, and BONE tokens. The platform offers Dig, a staking feature for liquidity pools, where users can deposit their crypto assets into existing pools or create their own. Liquidity providers are rewarded with ShibaSwap liquidity pool tokens (SSLP), which they can redeem for BONE tokens for free. Woof allows users to exchange BONE rewards by swapping SSLP tokens.

Bury offers users the ability to stake SHIB, LEASH, and BONE tokens to earn high-interest rates paid in BONE tokens. Users will receive tokens in the proportion of the tokens they staked in the form of xSHIB, xLEASH, or xBONE. Thirty-three percent of BONE returns from staking are immediately available, while the remaining 66% are locked for six months.

Swap is an exchange feature on the ShibaSwap platform that enables users to exchange one asset for several other assets. Doggy DAO is a decentralized autonomous organization for the Shiba Inu community, which aims to enhance the development of the SHIB token. Through this feature, community members are granted voting power and pairs on the Woof liquidity pool on the ShibaSwap platform.

Shiba Swap Main Competitors

Uniswap, PancakeSwap, and SushiSwap are all decentralized exchange (DEX) platforms that allow users to trade cryptocurrencies without relying on centralized authority. Furthermore, they are the top competitors for Shibaswap. Here are some similarities and differences between them:


  • All platforms are built on blockchain technology, providing a secure and transparent way to trade cryptocurrencies.
  • All platforms have liquidity pools that allow users to earn rewards by providing liquidity to the platform.
  • All platforms have their native tokens that are used for governance and to incentivize users.


  • ShibaSwap is based on Ethereum, while PancakeSwap is based on Binance Smart Chain, and Uniswap and SushiSwap are based on Ethereum and Polygon.
  • ShibaSwap is relatively new compared to the other platforms, which have been around longer and have a larger user base.
  • ShibaSwap has a focus on the Shiba Inu ecosystem and its native tokens, while the other platforms are more general-purpose.
  • SushiSwap has more complex yield farming strategies, while ShibaSwap has a simpler approach with just staking and liquidity pools.
  • PancakeSwap has lower fees compared to Uniswap and ShibaSwap, which can make it more attractive for smaller trades.

Comparison to Other Decentralized Exchanges

Metric Shibaswap Sushiswap Pancakeswap Uniswap
Launch Date July 2021 August 2020 September 2020 November 2018
Protocol Ethereum Ethereum Binance Smart Chain Ethereum
Total Value Locked (TVL) $1.4 billion $4.4 billion $10.7 billion $8.8 billion
Trading Volume (24h) $78 million $1.3 billion $1.3 billion $3.3 billion
Number of Pairs 29 727 751 10,432
Liquidity Providers (LP) 10,500 53,000 420,000 55,000
Governance Token BONE SUSHI CAKE UNI

Overview of Bone Token and its Price History

BONE is a token that is equipped with utility functions. It serves as the governance token for ShibaSwap, providing users with the opportunity to vote on crucial proposals on the platform. Possessing BONE provides individuals with the ability to cast votes in the DOGGY DAO, which functions as ShibaSwap’s decentralized autonomous organization (DAO). Furthermore, participating in voting for DOGGY DAO allows one to receive tBONE tokens as a form of compensation.

In addition to its governance functions, BONE can also be used for DIGGING (adding liquidity) on ShibaSwap, which can result in WOOF returns that are generated by trades on a ShibaSwap Liquidity Pool (token: SSLP). Similarly, individuals can BURY (stake) their BONE tokens to earn BONE rewards.

The BONE token’s price has been quite volatile over the past ten days, with a high of $1.1368 and a low of $0.9529. The most recent closing price on April 19, 2023, was $0.9552, which is lower than the opening price of $1.0718 on the same day.

On April 18, 2023, the price of the BONE token increased by 0.0037 or 0.35% from the previous day’s closing price of $1.0719. However, on the following day, April 19, 2023, the price decreased sharply by 0.1166 or 10.87%.

Looking at the volume data, the trading volume has been fluctuating over the past ten days, with the highest volume of $9,318,048 occurring on April 19, 2023, and the lowest volume of $4,139,820 occurring on April 10, 2023.In terms of market cap, the BONE token’s market capitalization has been quite stable, ranging between $219,623,592 and $254,503,903 over the past ten days.

BONE Token Price in 2023

Shiba Swap BONE token price

 is presently at $0.950534, ranking it at #151 among all cryptocurrencies. The token has a circulating supply of 229,923,446 and a market capitalization of $218,532,027. However, the token has encountered a 6.13% decrease in value in the last 24 hours, and a significant dip of 10.58% over the past week, exhibiting bearish tendencies. These conditions could provide an opportunity to invest in Bone ShibaSwap.

Over the last 30 days, BONE has experienced a significant price drop of 21.60%, plummeting from its previous value of $1.21 by $0.261882. This current downtrend indicates that Bone ShibaSwap is in a dip, with a decline of 34.96% in the last 3 months, eliminating $0.510927 from its previous value of $1.46. As we recover from crypto winter, the expected maximum price of Bone ShibaSwap is $1.71. While the expected minimum price is $1.14, the average price will be around $1.43.

Factors Affecting BONE Token Price Performance

Like any other cryptocurrency, the performance of the BONE token’s price is influenced by various factors. Some key factors that can impact the value of BONE include market sentiment, supply and demand, utility and adoption, competition, and regulation. The overall sentiment of the cryptocurrency market can affect BONE’s value, and a bullish market can lead to an increase in BONE’s price.

The laws of supply and demand play a significant role in determining the price of BONE, with high demand and limited supply leading to price increases. The more users that adopt and use BONE, the more valuable it becomes. The presence of competing tokens and platforms can also negatively affect BONE’s price. Finally, government regulations and policies regarding cryptocurrency can also impact the price of BONE, with new restrictions potentially having a negative impact on its value.

Advantages and Disadvantages of Investing in BONE Token

As for the benefits, BONE Tokens serve a lot of purposes within the Shiba Inu ecosystem. One of its most notable uses is as a governance token, allowing holders to have a say in crucial decisions. Additionally, users can provide liquidity or stake their BONE Tokens on ShibaSwap and receive rewards in return. Given the immense popularity of SHIB, investing in BONE Tokens may also prove to be a wise move.

However, it’s important to note that BONE Token is rooted in a meme coin and does not have any tangible real-world applications. It’s a highly volatile token that is prone to significant price fluctuations, making it a risky investment. Furthermore, staking and providing liquidity require a certain level of technical knowledge, which may be challenging for novice users. Therefore, it’s crucial to conduct comprehensive research and be fully aware of the potential risks before considering investing in BONE Tokens.


In conclusion, BONE Token is the governance token for ShibaSwap, a decentralized exchange in the Shiba Inu ecosystem. While it is derived from a meme coin, it offers utility and rewards for staking and providing liquidity on the platform. The potential of BONE Token depends on the growth and adoption of ShibaSwap, as well as the overall sentiment of the cryptocurrency market. It is a high-risk, high-reward investment, and traders should exercise caution and conduct thorough research before investing. However, with the growing popularity of the Shiba Inu ecosystem and the increasing interest in meme coins, BONE Token has the potential for significant price gains in the future.