Shiba Inu’s BONE Token Hits AtomicWallet, But Price Takes a Dive

• BONE integration in AtomicWallet boosts adoption for 5M+ users amid a recent 3.98% price dip.
• Trading volume surge of 49.94% signals heightened interest and potential volatility for $BONE.
• RSI at 36.81 suggests oversold conditions, offering a potential buying opportunity despite short-term negative momentum.

BONE, the native token of Shibarium, has been listed on AtomicWallet, granting access to over five million users and significantly boosting its adoption , the Shiba Inu (SHIB) ecosystem announced.

ShibariumNet, developed by Shibtoken, is a Layer 2 blockchain designed for scalability, faster, cheaper transactions, and expanded development. The inclusion of BONE on AtomicWallet marks a significant milestone for the SHIBARMY community.

Despite the positive news, the price chart of Bone ShibaSwap (BONE) shows a downward trend over the past 24 hours. Currently priced at $0.5607 , $BONE has seen a 3.98% decrease for the day. Analyzing the key support and resistance levels helps in understanding these price movements better. 

Immediate resistance levels include $0.5829, reached early in the day but not sustained, marking the highest point on the chart. This level serves as a crucial resistance point as the price was unable to hold and reversed sharply. Additionally, $0.5750, a mid-day attempt to rise, was rejected around this level, indicating another resistance level where selling pressure increased.

On the support side, $0.5560 marks the lowest price observed during the 24-hour period, showing a critical support level where the price found some buying interest and started to stabilize. The current price hovers around $0.5600, also acting as immediate support. Multiple interactions with this level suggest it is a significant short-term support.

The trading volume in the last 24 hours is $8,732,199, a significant increase of 49.94%. Higher trading volumes can indicate stronger interest and potential volatility. The volume/market cap ratio stands at 6.77%, indicating a moderately active trading scenario. This ratio shows substantial volume relative to the market cap, hinting at increased activity and potential price movement.

BONE/USD 1-day price chart, Source: Trading view

Additionally, the 1-day RSI reads 36.81, indicating that the asset may be approaching oversold conditions. This potentially signals a buying opportunity for traders looking to enter the market. . However, the 1-day MACD trading below the signal line suggests that the asset’s short-term momentum is negative, potentially leading to further downward price movement.