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Shiba Inu ecosystem tokens Shiba Inu (SHIB), Bone ShibaSwap (BONE) and Doge Killer (LEASH) saw a drastic decline in price on March 16 after concerning reports circulated regarding the Shibarium codebase.
A Shiba Inu community member had posted on Discord, alleging that the Shibarium chain shared the same ChainID as the Rinia testnet chain, 917. The BONE price took a hit, falling as much as 20% to reach lows of $1.08 on March 16. Over $5 million worth of BONE was unstaked as some took the route of panic selling as concerns emerge.
Shiba Inu's SHIB price and Doge Killer (LEASH) were also pummeled as both tokens dipped to intraday lows of $0.0000102 and $427, respectively, on March 16.
However, the sentiment seems to be gradually improving as the SHIB lead developer dismisses the concerns as FUD. Shiba developer Kaal Dhairya also teased a new Shibarium beta deployment, dousing the flames.
Tomiwabold OlajideAt the time of writing, SHIB was up 4.49% in the last 24 hours at $0.0000108, BONE was up 1.79% in the same time frame at $1.28 and LEASH was up 2.66% to trade at $471.
Shiba Inu burning increases
According to the Shibburn Twitter account, The community made an enormous burn of 934,428,791 SHIB tokens in 57 transactions. The SHIB burn rate is up 6,170.59%.
KoyoToken was attributed with having burned 924,150,949 SHIB in a single transaction. It also claims to have destroyed 4,631,179,336 SHIB through several transactions in the last eight days.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov