Shiba Inu’s BAD, BONE On Downward Slope Despite New Listings

Shiba Inu’s alternative tokens BAD, BONE fumble: new adoption cases & listings can’t halt the dip.

Baby shiba on on bottom of a desert seeing a BONE stuck in the sand that came sliding down from the slide.
Created by Kornelija Poderskytė from DailyCoin
  • Shibarium’s gas fee token Bone ShibaSwap (BONE) nears yearly lows.
  • Shiba Inu’s artificial intelligence partner, Bad Idea AI, also slumped 15%.
  • BAD recently scored its 7th listing upon a new utility case in Shibarium.

The Shiba Inu Ecosystem has recently expanded with the newcomer token Bad Idea AI (BAD). The fusion between decentralized autonomous organizations (DAOs), artificial intelligence (AI), and memecurrencies have added an extra layer of optimism for investors of the canine coin.

The original idea to merge memecoins, DAO, and AI was acclaimed by seven centralized crypto exchanges, GroveX being the latest.

BAD was officially welcomed to Shibarium L2 by SHIB Token developers to carry out a far-reaching mission of evaluating new projects on the mainnet. Using an advanced machine learning system, the BAD chatbot can store and analyze data submitted by builders, as well as answer the questions of crypto aficionados.

Shiba Inu’s BONE Loosens to Retest Yearly Bottom

Meanwhile, Shibarium’s official gas fee token, Bone ShibaSwap (BONE), is being attacked by ruthless crypto bears. Despite hitting the yearly high of $1.77 before the highly-anticipated Shibarium L2 mainnet launch, BONE has traded in a descending parallel channel since August 30th, 2023.

At that time, the market correction threw $BONE down to retest the multi-year support at $1 in just five days. As if that wasn’t enough, BONE had to wave goodbye to the TOP 100 by global market cap, as Shibarium’s gas and governance token lost an eye-watering $237M in market cap since the $1.77 yearly high achieved on August 6.

As previously noted by SHIB Token’s lead dev, Shytoshi Kusama, the issue for the ongoing $BONE’s downward trend underlies the slowed-down transactions on Shibarium’s mainnet. Despite quickly reaching a $1.44M in total value locked (TVL), Shibarium L2 developer activity has been cut in half.

On the Flipside

  • Bad Idea AI (BAD) token is one of the most-watched altcoins of the year on Crypto.com.
  • However, neither Crypto.com nor any other leading CEX exchange had listed BAD.

Why This Matters

A Layer-2 ecosystem with sufficient long-term utility brings new building and trading opportunities for crypto investors and developers.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.