Shiba Inu’s BONE token received a shot in the arm with the launch of perpetual trading on Canadian exchange SuperEX. This move could ignite a price surge, mirroring past trends with other tokens.

BONE Perpetuals Arrive on SuperEX

Lucie, Shiba Inu’s marketing lead, recently highlighted a significant development for BONE. SuperEX, a leading Canadian exchange, began offering perpetual trading on July 4th, UTC 03:00. This means traders can now speculate on BONE’s price movements with leverage ranging from 1x to 10x.

SuperEX Leverage Boosts Appeal

Read Also: Shiba Inu (SHIB) Faces Volatility Challenges

SuperEX hopes to attract more users by offering leverage trading on BONE. However, the exchange reserves the right to adjust these parameters to manage market risk. This perpetual listing has generated significant buzz within the crypto community, considering Canada’s vast crypto market. SuperEX’s massive user base, boasting nearly 350k followers on its social media handle, further amplifies the potential impact.

Will BONE Follow Suit?

Historically, perpetual listings have triggered bullish price movements for various tokens. For instance, Coinbase’s perpetual listings for SHIB, FLOKI, and BONK all witnessed subsequent price rallies. While past performance doesn’t guarantee future results, the overall sentiment leans towards optimism for BONE. Even Pepe, another trending crypto, experienced a significant price jump after its perpetual listing. However, BONE has yet to mirror this upswing.

BONE Price Awaits Breakout

Despite the perpetual trading launch, BONE’s price dipped slightly by 1.93%, settling at $0.4822. This decline aligns with the broader market trend, as Shiba Inu’s SHIB token also fell by 0.89% to $0.00001695. LEASH, another token within the Shiba Inu ecosystem, mirrored this trend with a 2.07% drop to $334.91.

Analysts Watch With Close Anticipation

Crypto enthusiasts are keeping a close watch on BONE, anticipating the perpetual listing to trigger a price surge. However, the current market sentiment leans bearish, with the RSI hovering around 36, indicating potential downward pressure. A further price decline could pave the way for a rebound, pushing the token into oversold territory and potentially sparking a buying spree.

The launch of perpetual trading for BONE on SuperEX presents an exciting opportunity for the Shiba Inu token. While the immediate price impact remains to be seen, historical trends and the potential of the Canadian market suggest a potential future rally. With continued development within the Shiba Inu ecosystem, BONE’s future remains bright.