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.
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