Shiba Inu’s BONE Token Rockets 9% on Binance Listing Speculation

• The Shiba Inu community has been rife with speculation that BONE could finally be listed on Binance following the exchange’s latest call for projects to apply for a listing.
• BONE has gained over 9% in the past day on these speculations and the successful integration of ShibaSwap into Shibarium, the ecosystem’s layer 2 network.

Could BONE be about to debut on Binance? This speculation has emerged over the past few days, leading to over 9% gains for the token, which has been on a losing streak since early March.

On Monday, Binance announced a call for project applications as it seeks to combat a rising challenge where projects launch their tokens with high valuations but low initial circulating supplies.

“To foster a healthy industry with a variety of market participants, including projects with lower to medium valuations, Binance is taking the lead to engage small to medium projects. We would like to invite such high-quality teams and projects to apply for our listing programs, including direct listing, Launchpools, Megadrops, and more,” the exchange stated.

Binance says the program will focus on projects that have “strong fundamentals, an organic community base, a sustainable business model, and a dedicated team acting as responsible industry participants.”

The program is open to projects with small-to-medium valuations relative to their competition. BONE, with a market cap of $149 million, qualifies under the specification. The program also seeks projects with significant token allocation reserved for community users and a good product market fit.

In addition to the expected benefits, Binance also promises to use its Launchpad and Megadrop programs to raise awareness of qualified crypto projects.

“Actively supporting small to medium capitalization projects is one of our approaches to mitigate some of the risks that we have observed in certain aspects of the market,” pledged the largest exchange in the world.

BONE to Launch on Binance?

Speculation is rife that BONE will be among the projects that Binance picks. This has led to a 9% price rise over the past day, with trading volume shooting up 120%. Trading at $0.6478, the token boasts a $149 million market cap at press time. In the past week, BONE has gained close to 15% despite a dip over the weekend.

The recent spikes present a much-need reversal of fortune for BONE, which has been on a decline since early March after hitting an eight-month high at $1.23. The token dipped to a low of $0.559 in mid-April, and while there have been a few rallies, they have all been shortlived, and the bears have regained control of the market.

Still, the BONE community remains strong. On Binance’s Futures NEXT, it’s in the top ten for cryptos that users want to see listed on the platform, with over 16,600 votes.