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- Despite BONE’s recent 9.87% decline in price and a $56.32 million market cap, its role as the gas token for Shibarium positions it for future adoption.
- Shiba Inu content marketer Lucie advocates for patience, suggesting that BONE’s utility within the ecosystem could drive long-term demand and growth.
The Shiba Inu team is drawing attention to the long-term value of BONE, Shibarium’s gas token, despite the recent setbacks it has experienced in the market. Lucie, a Shiba Inu content marketer, sought to reassure investors by comparing BONE with Cardano (ADA) and XRP, two cryptocurrencies that first experienced prolonged periods of stagnation before recording humongous price hikes.
How Cardano & XRP Overcame Slow Starts
Lucie’s statement brings attention to a recurring pattern in crypto markets: Early-stage assets often undergo prolonged periods of minimal price movement before gaining significant traction. Cardano (ADA) entered the market in 2017, debuting with a humble valuation of $600 million and a token value of only $0.02.
Its price action was initially slow, but as time passed, Cardano picked up massive adoption. Current market figures now place ADA at $23.43 billion, which is a testament to its long-term growth path. Likewise, XRP joined the crypto market in 2012, initially being traded at about $0.10 per token.
The Ripple token, however, went through several lows, with its price even dropping to an all-time low of $0.0028. In spite of the slow beginning, XRP later gained momentum, hitting a market capitalization of $135.71 billion today, with its price at $2.34.
These past examples prove that initial stagnation is not a sign of failure. Rather, they underscore the way that patience and embrace can fuel major long-term advantages for cryptocurrencies that have solid fundamentals.
BONE’s Current Market Position
Currently, BONE is available at $0.2449 with its market capitalization standing at about $56.32 million. The price of the token in the last 24 hours declined by 9.87% while its performance over the past week indicates a 4.74% loss. The market volatility has become a cause for concern among the investors, yet Lucie holds a positive attitude towards its future prospects.
Shibarium, the Layer-2 blockchain with BONE as its gas fee token, is slowly on the rise. While adoption was slower than anticipated, growth can be a driver of future price recovery for BONE. The token’s usage within the Shiba Inu ecosystem is still a strong consideration that may drive higher demand in the long run.
It’s important to note that Lucie’s comparison of BONE, Cardano, and XRP brings out an important investment strategy in crypto. It’s recognizing underpriced assets with good fundamentals before they are universally accepted. She emphasizes that though BONE’s performance right now might not look promising, history shows that long-term investors of good projects usually reap significant benefits. As reported earlier, in order to boost BONE use cases, Shiba Inu also launched the WHY combinator.
Although opinions on the future of BONE vary, Lucie’s comments affirm that patience in the market has always paid off for investors who have faith in a project’s long-term vision. If BONE is to take a path similar to Cardano or XRP, it might end up being a top asset in the crypto market.
