More than 410 trillion Shiba Inu (SHIB) tokens have been permanently burnt from the asset’s supply, according to the burn tracker Shibburn.
Millions of SHIB tokens are burning nearly every day as Shiba Inu’s highly-anticipated layer-2 network Shibarium prepares to launch in beta mode next week.
The official Twitter account for Bone ShibaSwap (BONE) published the launch announcement on Monday.
Shibarium is designed to be similar to other layer-2 scaling solutions like Polygon (MATIC). It will use BONE as its governance token and payment for gas fees.
BONE is up 11.65% in the past 24 hours. The 112th-ranked crypto asset by market cap is trading at $1.88 at time of writing.
Meanwhile, Doge Killer (LEASH) has also seen a boost following Monday’s Shibarium launch news and is up 6.3% in the past 24 hours. The 383rd-ranked crypto asset by market cap is trading at $667.87 at time of writing.
LEASH was originally designed to be utilized as a way to reward loyal members of the Shiba Inu (SHIB) ecosystem. However, the future utility of LEASH has become more mysterious since its release in May of 2021.
SHIB itself is trading at $0.000013 at time of writing. The 15th-ranked crypto asset by market cap is down nearly 3% in the past 24 hours.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Featured Image: Shutterstock/WindAwake
The post 410,385,130,202,095 Shiba Inu (SHIB) Burned From Supply Forever Ahead of Imminent Shibarium Release appeared first on The Daily Hodl.
