Shiba Inu’s BONE Token: Shytoshi Kusama Addresses Concerns

Shiba Inu’s BONE Token: Shytoshi Kusama Addresses Concerns

Recently, unexpected drama emerged within the Shiba Inu (SHIB) community when an enthusiast directly addressed the project lead, Shytoshi Kusama. The Shiba Inu team may need to ramp up marketing to boost BONE’s recognition and trading activity. While the SHIB community considers BONE’s future, the team remains committed to integrating the token into the ecosystem.

Understanding the Importance of BONE

BONE stands out among Shiba Inu tokens due to its unique role as the native asset of Shibarium. It serves two essential functions: facilitating transactions on the network by covering gas fees and enabling validators to actively participate in the network. Shibarium processes transactions using BONE tokens for fees, and interestingly, each transaction results in the burning of SHIB tokens. A portion of BONE fees is converted into SHIB and burned, aiding the token burn mechanism.

Related article: Shiba Inu Team Emphasizes Importance of Self-Sovereign Identity

In response to the criticism, Shytoshi Kusama himself addressed the concerns, attempting to dispel any lingering doubts and uncertainties. He emphasized that BONE is fully integrated into the governance and technology of the Shiba Inu ecosystem. According to Kusama, the token is crucial to the future of Shiba Inu, and its importance is not up for debate. 

Challenges in Increasing BONE’s Visibility

Despite its importance, BONE struggles with visibility, particularly since it’s not listed on tier-1 exchanges like Binance. The issue isn’t just its suppressed quotes but also its low trading volume, with only $3.8 million turnover in the last 24 hours.

Related article: Shiba Inu Prepares for Liquid Staking Launch: A New Era on Shibarium

As a result, the Shiba Inu team may need to focus on marketing efforts and giving BONE the push it needs to gain wider recognition and trading activity. While the SHIB community continues to explore the future of BONE, the team’s commitment to integrating the token into the ecosystem remains unwavering. 

However, increasing BONE’s visibility and trading volume will be crucial steps in ensuring its success.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Share this :

Facebook
Twitter
LinkedIn
Telegram
WhatsApp