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Memecoins SHIB, BONE, and LEASH Experience Growth but Encounter Obstacles;
In recent months, the cryptocurrency sector has been lively with the emergence of memecoins, particularly SHIB, BONE, and LEASH. These meme-themed digital currencies have attracted considerable interest from various cryptocurrency exchanges, including the Australia-based platform GroveX.
GroveX, in a recent announcement on Twitter, disclosed that it had included all three well-known memecoins on its platform. The exchange conveyed its satisfaction in supporting the Shiba Army, a committed group of investors advocating for the success of SHIB. The tweet stated, “$SHIB $BONE and $LEASH all now available on #GroveX. It’s a pleasure #ShibaArmy #ListOnGroveX #GroveX #ShibaArmy #SHIB $BONE #cryptocurrencies #Xchange #Binance #BTC #BNB #ETH.”
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Nevertheless, despite the favorable news regarding the GroveX listing, SHIB, BONE, and LEASH have encountered difficulties in the market. SHIB, frequently referred to as the “Dogecoin killer,” experienced a 6% drop in its price over the last week. BONE and LEASH also saw declines, with BONE decreasing by 18% and LEASH losing 13.5% of its value in the past seven days.
It is important to highlight that these memecoins have not confined their presence to GroveX alone. Numerous other cryptocurrency exchanges have acknowledged their popularity and incorporated them into their listings. Shiba Inu (SHIB) has made its way onto various trading platforms. Concurrently, BONE, the native token of the decentralized exchange ShibaSwap, received backing from firms such as Huobi, OKX, and Crypto.com earlier this year.
The largest cryptocurrency exchange globally, Binance, made news by announcing the inclusion of 22 loanable and collateral assets, including Shiba Inu, last month. This action sparked speculation that BONE might be the next candidate for a Binance listing. However, Binance has not yet commenced trading services for BONE, leaving the community anticipating further updates.
In summary, while memecoins like SHIB, BONE, and LEASH continue to engage the interest of cryptocurrency enthusiasts and exchanges, their recent price declines highlight the volatile nature of these digital assets. The listing on GroveX and the sustained interest from major exchanges suggest that the memecoin trend is far from finished. Nonetheless, investors should exercise caution and closely observe these markets for potential changes.
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