SHIB Burns Surge Over 2,700% Amid BONE Token’s Role in Shibarium Layer-2 Functionality

Key Points

1. BONE token serves as the primary gas token in Shibarium, facilitating network operations and contributing to SHIB's tokenomics by converting gas fees into SHIB burns.

2. SHIB burn rate surged by 2,753% in 24 hours, with over 6.4 million SHIB tokens transferred to unspendable wallets, highlighting community-driven deflationary efforts.

3. Shibarium's public burn portal allows users to voluntarily burn SHIB tokens, fostering community engagement and transparency in the token's deflationary model.

4. The integration of BONE in Shibarium and the burn mechanisms are expected to sustain upward pressure on SHIB's scarcity and long-term value.

5. Recent analytics show a 360.90% increase in SHIB burns over seven days, totaling over 135 million SHIB tokens, indicating strong community commitment.