BTCC / BTCC Square / Cryptopotato /
Shiba Inu-Themed Meme Coin Crashes After OKX Delisting Shock—Here’s What Happened

Shiba Inu-Themed Meme Coin Crashes After OKX Delisting Shock—Here’s What Happened

Published:
2025-07-01 13:23:30
9
3

Another day, another meme coin bloodbath—this time it's Shiba Inu's turn.

OKX just pulled the plug on the token, sending its value into freefall. No lifelines, no mercy—just the cold logic of exchange listings striking again.

Who needs fundamentals when you've got dog-themed hype? (Spoiler: exchanges do, apparently.)

Pro tip for degens: maybe check an exchange's 'delisting policy' before FOMO-ing into the next canine-inspired shitcoin.

BONE Heads South

Shiba Inu (SHIB) is a meme coin that has evolved into a robust ecosystem over the past few years. One of the most popular tokens within the network is Bone ShibaSwap (BONE).

The asset has not been in its best shape lately, posting a 32% decline on a monthly scale and plunging by 12% in the past 24 hours alone.

BONE Price

BONE Price, Source: CoinGecko

The main reason triggering the latest downfall is OKX’s decision to withdraw its support from the meme coin. The well-known cryptocurrency exchange announced that it will delist several digital assets on July 7, with BONE included in the list. 

OKX has already suspended deposits involving the token, while withdrawals will be terminated by the end of September. 

“We will continue to monitor all listed trading pairs and implement the delisting/hiding mechanism as necessary,” the company concluded.

OKX boasts over 50 million users globally and is among the behemoths in its field. When it withdraws support for a token, it often leads to negative price impacts driven by reduced liquidity, limited access, and potential reputational concerns.

BONE saw the light of day in the summer of 2021 alongside the debut of ShibaSwap – Shiba Inu’s decentralized exchange. It enables holders to vote on development proposals and influence protocol decisions, serves as a reward for liquidity providers, and functions as a gas token for Shibarium. During its early days, its price skyrocketed above $15, while currently, it trades at a mere $0.18. 

The Community’s Reaction

One person who gave their two cents on the delisting effort is the X user LUCIE, who serves as Shibarium’s marketing strategist. The team member thinks there’s much panic over two (unnamed) “manipulative” exchanges that have withdrawn their support from the token. 

LUCIE said they don’t want to be involved in the drama, putting their trust in DeFi and highlighting its advantages over centralized platforms:

“I trust DeFi. Use good exchanges only to exchange. We’re here to build and embrace DeFi – and simplify it so even beginners can onboard without needing 2FA, KYC, and a blood sample just to get started.”

Shibarium’s executive also noted that SHIB and other cryptocurrencies, like XRP, have faced similar FUD (Fear, Uncertainty, and Doubt) but have survived the backlash over the years. At the same time, LUCIE reminded about the demise of former giants like FTX and WazirX, hinting that centralized exchanges are not immune to another collapse of that type.

|Square

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users