With Shiba Inu’s recent launch of a fiat on-ramp service, users can buy BONE and USDC with MasterCard or Visa. The service eliminates the challenges of bridging tokens and navigating difficult exchanges, making BONE and USDC more accessible to users. Hopefully, this will enhance the tokens’ utility and value.
Making BONE purchases more efficient
The most important feature of the new on-ramp service is the highly efficient method of buying BONE and USDC directly on Shibarium, Shib’s L2 blockchain, using these traditional payment methods. The process is beginner-friendly, doing away with the need for any web3 knowledge or even a centralized exchange account. First-time buyers of BONE or USDC will find these assets easily accessible.
The streamlined approach promotes the advancement of innovative services and applications on Shibarium. It is not the only step in the planned expansion of the Shib ecosystem. The latest developments within Shibarium also represent some crucial ones. It was recently reported that Shiba Eternity would debut on the platform, setting the stage for Shiba Inu community gaming.
Is bullish momentum on the horizon for BONE?
Despite the positive developments, BONE’s price remains under pressure. It remained flat on the news and is trading for $0.4263 at the time of writing. BONE’s price is 97% lower than its all-time high of $15.50, recorded in July 2021. BONE’s trading volume is also down. It is just over $5 million in the last 24 hours, a 14% decline from one day ago.
BONE’s moving averages suggest a strong sell. The classic pivot point is at 0.474161, above the current price of $0.4263. Being below the pivot suggests that the market sentiment is bearish or at least not strongly bullish. The next support level to watch is 0.356450. Buying might emerge if BONE finds support at this level.
The pivot point could now act as resistance. If the price moves back up towards $0.474, it might struggle to break above. Traders who see the pivot point as a key level could use it to determine sell orders.
