Shiba Inu-Related Meme Cryptocurrency Plunges Following OKX's Withdrawal: Explanation

The Bone ShibaSwap (BONE), a popular token within the Shiba Inu (SHIB) ecosystem, experienced a significant drop following OKX's decision to withdraw its support. The cryptocurrency exchange announced plans to delist several digital assets, including BONE, which had led to a 32% decline in its value on a monthly scale and a 12% drop in the last 24 hours.

This decision often results in negative price impacts due to reduced liquidity, limited access, and potential reputational concerns. Shibarium's marketing strategist, LUCIE, urged users not to panic, noting the advantages of DeFi over centralized platforms, and reminded that even major exchanges aren't immune to collapse.