Shiba Inu Leads Under Criticism as BONE Drops 68%
Shiba Inu ecosystem head Shytoshi Kusama has addressed recent criticism by stating that the BONE token has nothing to do with Shibarium.
Recently, Shiba Inu community member Enes Turyan sparked a debate 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 not promoting BONE enough. He claimed that they did not promote BONE effectively, arguing that there was a knowledge gap among potential users. He pointed out that some people did not know the purpose of BONE, especially when combined with Shibarium.
This concern stems from the poor performance of the BONE token and the low number of holders.
BONE Poor performance
BONE is currently trading at $0.3925, down more than 8% over the past week. Looking at a broader timeframe, the token has dropped a whopping 27% over the past 30 days and a whopping 68% over the past year.
Members of the Shiba Inu community attribute BONE's poor performance to the community's lack of interest in the breed.
For example, Javier Olmedo points out that BONE has a relatively small holder base of 95,000, suggesting that the coin's potential could be unlocked if it were more widely adopted by the 1.4 million holders of the SHIB Army.
Turyan believes this disparity is due to a lack of awareness about BONE among some SHIB cardholders, which he blames on Shytoshi Kusama.
Shiba Inu first reaction
In response to the criticism, Kusama emphasized that BONE is fully integrated into the Shiba Inu ecosystem's management and technology systems. According to Kusama, the issue is not that BONE is unknown, but that it is an important component in the ecosystem's future plans.
Can BONE be had for $5.60 with Kusama's promotion?
Turyan disputed Kusama’s claim, arguing that BONE’s price could reach at least $5.60 if properly promoted. He argued that the token’s years of stagnant price have eroded investor confidence.
Turyan is not the only community member who believes that Kusama is responsible for BONE’s underperformance. Many community members agree with Turyan’s sentiment. They question why Kusama does not promote BONE as much as other tokens despite claiming that it is important for the future of the ecosystem.
They stressed that many Shiba Inu enthusiasts may not know the importance of BONE, pointing out the significant difference in the number of owners between SHIB (1.4 million) and BONE (95,000). Therefore, they asked Kusama to provide a clearer definition and a positive outlook for the future of BONE.
