The Shiba Inu ecosystem has experienced a significant increase in SHIB token burning activity. Recent data shows a surge of 4,461% in the SHIB burn rate, primarily driven by the burning of over 3.1 million SHIB tokens in just one week. This spike contributes to a substantial reduction in circulating supply, with the total number of SHIB tokens permanently removed from circulation now reaching approximately 628 million.
Concurrently, the Shiba Inu development team is highlighting the integral role and potential of the BONE token within its ecosystem. Functioning as the designated gas token, BONE is crucial for powering transactions, decentralized applications (dApps), and NFT minting operations on the Shibarium layer-2 blockchain.
Key to BONE’s value proposition is its fixed maximum supply of 250 million tokens. This inherent scarcity creates a deflationary mechanism, supporting its long-term value potential. BONE is actively integrated across major Shiba Inu projects, including the ShibaSwap decentralized exchange and the Shibarium layer-2 solution. Furthermore, it serves a governance function, granting holders voting rights on ecosystem proposals.
The SHIB team points to robust community support and a continuously developing roadmap for the ecosystem as fundamental factors underpinning BONE’s prospective growth trajectory.