More than 410 billion Shiba Inu tokens (SHIBs) have been permanently burned from the asset’s supply, according to burn tracker Shibburn.
Millions of SHIB tokens are burned almost 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) posted 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 a token for governance and payment of gas fees.
BONE is up 11.65% in the last 24 hours. The 112th-ranked crypto asset by market capitalization is trading at $1.88 as of this writing.
Meanwhile, Doge Killer (LEASH) also saw a boost on Monday’s Shibarium release news and is up 6.3% over the last 24 hours. The 383rd-ranked crypto asset by market capitalization is trading at $667.87 as of this writing.
LEASH was originally designed to be used as a way to reward loyal members of the Shiba Inu (SHIB) ecosystem. However, LEASH’s future utility has become more mysterious since its release in May 2021.
SHIB is trading at $0.000013 at the time of writing. The 15th-ranked crypto asset by market capitalization is down nearly 3% in the past 24 hours.
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