Shiba Inu Metaverse Dev Raises New Charges, BONE Falls 16%

Jake Simmons

1 year ago

3 mins read

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The Shiba Inu ecosystem is currently facing numerous rumors and claims that are dismissed as FUD by lead developer Shytoshi Kusama. As Bitcoin reported earlier today, a member of the SHIB Growth team noticed that Shibarium shares the same chain ID with the lesser-known blockchain Rinia.

As a result, accusations of plagiarism have been leveled against Shiba Inu and its chief developer Kusama. While both KRYPSTEIN (@MrDonGG), the Rinia testnet developer and SHIB developer Kaaldhairya clarified that it is not a case of plagiarism but a stupid mistake, yet the Shiba Inu community is not coming to rest.

❤️🤝 https://t.co/Fcg3K0MgIH

— Kryptstein (DonaSwap🍩🍩 / FireChain🔥🔗) (@MrDonGG) March 16, 2023

Shiba Inu Community Sinks Into Chaos

One of the SHIB metaverse developers and defense team co-lead “Trophias” explained that the entire metaverse team is unaware of what the SHIB army is seeing on the shib.io website and in the metaverse video shown at the SXSW festival. As Trophias details, the Metaverse team consisted of Baysed, Milkshake, UB, Stix, Firstword, and him – none of whom are said to have known anything about the developments.

The reason Trophias and the team supposedly don’t know is that Kusama fired the entire team, while Metaverse consultant Marcie Jastrow said that the entire team was not fired:

We were left ‘pending’ and that ‘she’s going to handle it after sxsw’. She told us that ‘we were not fired or removed’ yet our access got pulled and then all of the other weird shit started happening. They will not be transparent with us, they refuse to communicate.

Furthermore, Trophias threatens that “there’s a lot you all don’t know that is being silenced. I can’t go into it all right now, but I’m sure some of it will come to light soon.” Kusama reportedly turned the entire team against him with “slanderous lies and manipulations.”

Kusama has responded to the allegations with detailed explanations, calling it all FUD. “Half the people in this room have spent the last weeks trying to call me names, dox my real name on socials, call me a scammer, discredit while trying to pump their bags on projects,” Kusama said.

Furthermore, Shiba Inu’s chief developer also clarified that there is a new team responsible for the progress that was seen at SXSW Festival, among other things. “Amazing products and services, fueled by a momentum that drives us forward. We build against ALL FUD,” replied Kusama, who also emphasized:

You’ve seen the quality of the stuff we’re now releasing and the new Shibarium design will be no different. There is much to be done and things are moving, scaling, and we are being agile and learning in the process. Please, watch closely how we upgrade all things visually.

Adding to the chaos within the SHIB community, one of the biggest crypto YouTubers Ben Armstrong aka BitBoy is threatening to reveal Kusama’s identity. Armstrong said he could reveal the identity as soon as tomorrow and hinted that the person has been working with FTX founder Sam Bankman-Fried.

Sam was involved early on once the two co-founders split. One left and made his own chain. The main founder worked with Sam as the project got off the ground.

— Bitboy Crypto (@Bitboy_Crypto) March 16, 2023

BONE Falls 16%, SHIB Down 5%

While the Shiba Inu Token (SHIB) is weathering the chaos and allegations relatively well, Bone ShibaSwap (BONE) has fallen from $1.53 to $1.12 at one point, down more than 26%. As of press time, BONE is seeing a slight recovery and was trading at $1.27, but that still leaves BONE down 16% over the past 24 hours.

BONE seems to be hit particularly hard by the allegations, as the token is considered to play a major role in the SHIB Metaverse. On top of that, $5 million in BONE tokens were removed from the staking contract after the rumors emerged.

For the moment, the 200-day Exponential Moving Average (EMA) seems to provide support. If BONE breaks below, the price level around $1 could provide major support.

Shiba Inu BONE token price — BONE marks new low, 1-day chart | Source: BONEUSDT on TradingView.com

Featured image from MEXC Blog, chart from TradingView.com

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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