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Home Crypto News Market 25,327 BONE Burnt, A First-Ever Burn Transaction Destroying Shiba Inu Ecosystem Coin...

25,327 BONE Burnt, A First-Ever Burn Transaction Destroying Shiba Inu Ecosystem Coin ‘Bone’

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Community-Led Burn Initiative For Bone ShibaSwap, (BONE) Kickstarts; 25,327 BONE, Worth $15,118 Transferred To Dead Wallet Through First-Ever Burn Transaction.

Following the launch of the “SHIB Burn Portal,” the community rushed to get started the burn campaigns for another official token of the Shiba Inu ecosystem, Bone Shibaswap (BONE).

The first-ever burn for Bone Shibaswap, one of the tokens of the Shiba Inu ecosystem, has been officially claimed by SHIB-inspired tokens named “1CENT”.

The token has sent 25,327 BONE, worth $15,118, to a dead wallet through one transaction.

The token that came into existence about two months ago is inspired by Shiba Inu Community. The token name “1CENT” is derived from one of the famous and trending hashtags, #1CentDream, most commonly used by Shiba Inu Community members hoping and wishing Shib to reach the 1 Cent mark.

1CENT Mission Statement:

As per CoinMarketCap (CMC) data, the current circulating supply of SHIB is 549.06 trillion tokens. 1CENT token is on a mission to reduce this massive circulating supply while increasing demand for the dog-themed cryptocurrency and making it able to hit the $0.01 (1 cent) mark.

Total Number of SHIB Burned By the Project:

1CENT organizes “Burn Event for SHIB” every week. Through this event, the token utilizes 7% of the earned tax per transaction to burn SHIB. Since its birth, the token has removed a whopping 1,759,123,416 (1.75B) SHIB through 7 separate transactions from circulation forever.

Recent Weekly Burn Event:

Following its Weekly Burn Event Schedule, for the 7th week straight, 1Cent, a token supporting SHIB burn, organized a Weekly Burn Event on 25th April 2022. Through this event, the project claimed that they had sent 288,337,503 (288.33M) SHIB to the dead wallet through one significant transaction.

1CENT Ecosystem Expansion:

The project has recently expanded its ecosystem and brought up a new token named “XCent.” This token aims to reduce the current circulating supply of Bone ShibaSwap (BONE).

Bone ShibaSwap is the governance token of ShibaSwap and will be the native gas token of the upcoming blockchain named “Shibarium.”

As per data provided by CoinMarketCap, the current circulating supply for BONE stands at 6,975,299 (6.97M).  At the time of writing, BONE is trading at the price of $0.59, up 3.45% over the last day, with a 24-hour trading volume of $1,828,901 ($1.82M).

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.


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