Shiba Inu Lead Under Fire as BONE Tanks 68%

Shiba Inu ecosystem leader Shytoshi Kusama has addressed recent criticisms claiming the BONE token is not known to be associated with Shibarium.

Recently, Shiba Inu community member Enes Turyan sparked a conversation by criticizing Kusama and Shiba Inu partner K9 Finance regarding the market situation of the BONE token.

Specifically, Turyan criticized Kusama and K9 Finance for inadequately promoting BONE. He claimed they have not effectively advertised BONE, claiming a knowledge gap exists among potential users. He pointed out that some people are unaware of the purpose of BONE, particularly in conjunction with Shibarium.

This concern stemmed from the BONE token’s underperformance and the low holder count.

BONE Underperformance

BONE currently trades at $0.3925, representing a decline of over 8% in the past week. Looking at a broader time frame, the token has plummeted by 27% in the last 30 days and a staggering 68% over the past year.

Members of the Shiba Inu community attribute BONE’s underwhelming performance to poor adoption among community members.

For example, Javier Olmedo pointed out that BONE has a relatively small holder base of 95,000, suggesting that its potential could be unlocked if it were more widely adopted by the SHIB Army’s 1.4 million-strong holder base.

Turyan believes this disparity is due to a lack of awareness about BONE among some SHIB holders, which he blames on Shytoshi Kusama.

Shiba Inu Lead Reacts

In response to the criticism, Kusama stressed that BONE is fully integrated into the Shiba Inu ecosystem’s governance and technology. According to Kusama, the issue is not that BONE is unknown but rather that it is a crucial component of the ecosystem’s future plans. 

BONE Could Have Been $5.6 with Kusama Promotion?

Turyan countered Kusama’s statement, suggesting that BONE’s price could have reached at least $5.60 if it had been properly promoted. He argued that the token’s multi-year stagnant price erodes investor confidence.

Turyan is not the only community member who holds Kusama responsible for BONE’s underperformance. Many community members echoed Turyan’s sentiments. They question why Kusama does not promote BONE as much as other tokens despite claiming it is vital to the ecosystem’s future. 

They stress that many Shiba Inu enthusiasts may not know BONE’s importance, pointing out the significant disparity in holder numbers between SHIB (1.4 million) and BONE (95,000). As a result, they asked Kusama to provide clearer definitions and a positive outlook for BONE’s future.