Shiba Inu’s BONE Breaks Downtrend Amid Major CEX Listing

Shiba Inu’s Bone Shibaswap (BONE) token has broken its recent downtrend following its inclusion in a new lineup of trading pairs on OKX, a prominent crypto exchange. Starting on October 17, 2024, BONE will be available for trading against USDC, a stablecoin pegged to the U.S. dollar. The BONE price also saw a substantial rebound after the latest announcement.

Shiba Inu’s BONE Bags OKX Listing

The addition of Shiba Inu’s BONE, along with tokens like EigenLayer (EIGEN), Pendle (PENDLE) and Turbo (TURBO), is part of the crypto exchange’s strategy to expand trading options and further integrate USDC. This development provides traders with enhanced flexibility and access to a growing number of altcoins.

OKX’s decision to introduce these new trading pairs reflects the exchange’s focus on diversifying its offerings to meet the increasing demand for popular tokens like BONE. In contrast to this expansion, the exchange will simultaneously streamline its platform by delisting several underperforming tokens.

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The affected tokens include BLOCK, UTK, AST, SIS, WXT, and WIFI. The delisting process will take place on October 24, 2024, from 08:00 to 08:30 a.m. UTC, and will affect specific pairs such as BLOCK/USDT, UTK/USDT, and WIFI/USDC.

Additionally, on October 22, 2024, OKX will adjust its futures contract settings, changing the minimum order quantities and step sizes for various trading pairs. Notably, the minimum order for TURBO/USDT will be reduced from 1 contract (10,000 coins) to 0.1 contract (1,000 coins), allowing traders more precision in their transactions. This update aims to lower costs and provide more control over trading strategies.

In response to the delistings, OKX has released guidance for traders to manage their assets and cancel orders before the changes take effect. These adjustments reflect the exchange’s commitment to offering an optimized trading environment while supporting the evolving needs of its user base.

BONE Price Rebound

At press time, Shiba Inu’s BONE traded at $0.41, gaining 0.67% on Wednesday, October 16. Though the gain is modest, it is still significant considering the downtrend the meme coin faced lately. The upcoming exchange listing announcement reignited investor optimism as growing adoption by exchanges would eventually drive demand for the Shiba Inu ecosystem token.

Moreover, now the seven day returns are also positive with 1.10% profit. However, since the meme coin space is extremely volatile BONE’s fate still hangs in the balance.

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