The Shiba Inu (SHIB) community is up in arms after Binance chose to list newer, less established tokens rather than BONE, a crucial part of the Shiba Inu ecosystem. The decision has sparked widespread frustration among SHIB supporters who believe BONE deserves a place on the exchange.
Binance recently updated its listings, featuring tokens like NEIRO, TURBO, and Baby Doge Coin (100000BABYDOGE), while overlooking BONE.
For many in the SHIB community, Binance’s decision represents a missed opportunity for BONE. An essential governance token for ShibaSwap, BONE is a key player in the SHIB burning mechanism on Shibarium.
SHIB Community Reacts
Lucie, the marketing lead for Shiba Inu, voiced her discontent on X (formerly Twitter), urging Binance to include BONE.
Her call reflects a broader discontent within the community, who feel that BONE’s utility and role within the Shiba Inu ecosystem warrant a Binance listing. Lucie argued that Binance’s focus on new, hyped tokens might be sidelining valuable assets like BONE.
Since its launch in July 2021, BONE has served as the governance token for ShibaSwap. It has been integral to burning SHIB through Shibarium.
Its absence from Binance, especially when other exchanges like Gate.io and OKX have listed it, highlights a potential disconnect between Binance’s listing strategy and the real value of established tokens.
Lucie highlighted that some tokens are favored over others due to the pressure on exchanges to achieve quick returns in a low-liquidity environment.
She suggested that exchanges like Binance might prioritize hyped, newer tokens like NEIRO and Baby DogeCoin for their potential to deliver rapid profits, sometimes at the expense of established tokens like BONE with significant utility.
Although BONE remains absent from Binance’s listings, the Shiba Inu community is optimistic about its future inclusion. As Binance continues to add new tokens, the call for BONE’s recognition grows stronger. Despite the current situation, BONE’s integral role in the Shiba Inu ecosystem ensures its ongoing relevance and importance.
SHIB Price Analysis
SHIB/USDT Price Chart; TradingView
Last week, Shiba Inu briefly surged to $0.00001407 on September 14 but has since dropped to $0.0000133. This decline is reflected in weakening on-chain metrics, with Net Network Growth down 0.19% daily and large transaction volume plummeting 76% to $5.3 million.
The SHIB burn rate has also fallen sharply by 96%, with only 227,000 tokens burned in the past 24 hours. Despite over 410 trillion tokens burned since the program’s inception, 583 trillion remain in circulation.
Shibarium’s new “Burn Portal,” using BONE for transaction fees and SHIB burns, is a recent development. According to Into The Block data, SHIB investors are struggling.
They have seen 52% in losses compared to 45% in profits. Whereas Dogecoin (DOGE) and Pepe (PEPE) investors are faring better, with 72% and 49% in profit, respectively.
