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.
We are happy to announce the first Bone burn worldwide, 25327 bone burned, we will take bone to $1000 dollars ?https://t.co/Q9LXiJmSEc
Tghttp://t.me/Ecosystem1Cent pic.twitter.com/ZZH4ci2E3v
— 1Cent (@1Cent_token) April 25, 2022
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.
we are pleased to announce the 7th burn 288,337,503 million SHIB burned a total of 1,759,123,416 shib ??? let's go for more… More shibarmy, more WE BURN ?
@CryptoDiary @Shibtoken @SHIBQueenie
tg English https://t.co/bI5VQnTgOh— 1Cent (@1Cent_token) April 25, 2022
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).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
