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The Shiba Inu governance token, which is also the Shibarium gas token, Bone ShibaSwap (BONE), is reporting a price increase.
On Dec. 13, BONE had a remarkable price surge from $0.722 to $0.839, with a significant green candlestick. The gains were sustained until press time, and BONE was up 10% in the last 24 hours to $0.813.
Shiba Inu layer-2 Shibarium has just surpassed 105 million total transactions, a huge milestone.
Shibarium's total transactions have hit 105,284,855 as its transactions have soared in recent weeks. Since Dec. 2, Shibarium has regularly maintained an average of 7.5 million daily transactions. In the last 24 hours, the Shiba Inu layer-2 protocol experienced 7.36 million daily transactions.
The explosive transaction surge has been traced to SRC-20 minting activities, which allow inscriptions and ordinals on Shibarium.
This contributed to the rising growth in transaction fees, which have topped 1.4 million BONE, according to the latest Shiba Inu magazine report. This might serve as a pointer to the lucrative rewards generated by massive transactions within the Shibarium network.
To add to the excitement, the Shiba Inu community is preparing for multiple SHIB burns — a spectacle in which SHIB tokens are set ablaze — aimed at not just a reduction in circulating supply but also boosting the project's long-term value.
A massive SHIB burn worth $70,000 happened in the past week, and three more manual burns are set to take place from Dec. 14 to 16.
Valeria Blokhina
Vladislav Sopov
Gamza Khanzadaev
