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Shiba Inu’s BONE token is not being adopted as quickly as it should be despite efforts made to grow the ecosystem.
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Lucie is a Shiba Inu marketing professional who compares BONE’s performance to ADA in its early years.
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XRP (XRP) and ADA (ADA) both experienced significant increases after years of slow growth.
Shiba Inu, initially popularized as meme coin following Dogecoin (DOGE) price gains in 2021, has matured to become a community-led initiative.
Shiba Inu introduced tokens such as Bone ShibaSwap to support its ShibaSwap DEX. However, the Shiba Inu Ecosystem and BONE has not achieved the expected rate of user growth.
Shiba Inu User Acquisition Metric hits new low
Data from IntoTheBlock shows a decline in the number of new users within the Shiba Inu eco-system.
In February, this metric reached a multi-year record low of 12.73%. This is the lowest rate of adoption in nearly two years. The previous low was 5.20% in March 2023.
Related toMeme Coin meltdown? Shiba Inu Hints At Market Turnaround
Lucie, a Shiba Inu marketing content specialist, turned to social media for perspective despite data showing slower adoption. She reminded the community of major cryptocurrencies like Cardano (ADA), and XRP, which initially saw a subdued market. These tokens traded in a range of prices for long periods before reaching a significant market value. Lucie suggests BONE could follow a similar pattern over the long term.
She wrote on X (formerly Twitter), “Before giving up on BONE think of Cardano (2017) and XRP (2012) — both were pretty flat for many years.”
XRP and AD: Examples of Price Appreciation over Time
XRP has, for instance, seen several major price increases throughout its history. The price of XRP has increased significantly, reaching a high of around $3.84 by January 2018. In 2024, XRP’s price increased by nearly 300%. It went from $0.52 in Nov 2024 to more than $3 in Jan 2025. This growth phase was a result of the anticipation that the Trump administration would adopt a more crypto friendly regulatory stance.
Cardano is another example of a significant price increase over the long term. In February 2021 its price increased by about 800%, going from $0.18 up to $2.46. In March 2025, after President Trump announced the inclusion of Cardano in his strategic crypto reserve, ADA’s value rose 78% to $1.14.
BONE’s current market valuation and technical support considerations
BONE is currently trading at $0.24, and has fallen by more than 11% over the last 24 hours.
One technical analyst noted that BONE’s current price is still very low, but it has a projected target price of $2.50.
Related: Shiba Inu price falters as whale transactions plummet 79%
Investor sentiment could be improved by broader market trends, such as renewed interest in memecoins (especially SHIB and PEPE).
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