Shiba Inu’s gas token BONE is showing signs of a major breakout, with analysts suggesting the token may have finally bottomed after nearly three years of consolidation.
As of June 4, 2025, BONE is trading at $0.2829, having showed a massive move of nearly 10% yesterday. Its 24-hour range is between $0.2757 and $0.3005, with a weekly gain of 2.33%. Trading volume over the past day reached $7.63 million, signaling heightened market interest.
Community Influencer and Crypto Analyst SHIB KNIGHT has highlighted that the current price action fits a pattern that often precedes major breakouts. He noted the bottom appears confirmed and said he is watching price movements closely.
According to the chart shared by SHIB KNIGHT, BONE has been consolidating within a falling wedge pattern on the weekly chart. The token has been trading between $0.1969 and $2.39 for almost three years, forming new lows over time but holding within this range.
In addition to technical signs, developments within the Shiba Inu ecosystem have also boosted BONE’s momentum. The recent launch of ShibDAO on May 29, 2025, empowers the community by allowing BONE token holders to vote on key proposals related to Shibarium, ecosystem development, and future initiatives. This development has had a positive impact on BONE’s price, reflecting increased investor interest and confidence in the project’s direction.
The Shibarium blockchain is also showing growth, with total addresses reaching 262,548,329 and a total of 1,200,252,640 transactions recorded. Meanwhile, 15,337,783 BONE tokens are currently staked, demonstrating strong demand within the ecosystem.
According to the On-chain data, BONE has currently 95,021 holders and a market capitalization of $70.03 million.
It ranks 470th in terms of market cap in the crypto market.