According to shibainuart, a Twitter user dedicated to the SHIB community and generally providing updates regarding the SHIB ecosystem, over 37 trillion SHIBs are currently staked on Shibaswap. The other tokens in the ecosystem, LEASH and BONE, currently have 35,533 and 66,224,009 tokens in storage.
ShibaSwap is the core decentralized exchange (DEX) of Shiba Inu. Launched in July 2021, the ShibaSwap exchange has many of the same features as existing decentralized exchanges, such as token swapping and liquidity pools, as well as staking and governance.
ShibaSwap is powered by the SHIB trifecta, the main ecosystem token, Shiba Inu (SHIB), along with two other ERC-20-based tokens, BONE and LEASH. With a total supply of 250 million, BONE is intended to serve as the governance token of the platform. BONE token holders can use the βDoggy DAOβ to propose and vote on improvements to the ShibaSwap protocol.
The Shiba Inu Burn Portal Now Has Over 22 Billion SHIBs Burnt
According to reports, more than 22 billion SHIB tokens The SHIB Burn Portal is burned in the first week of operation. By moving SHIB tokens to the burn address, users can permanently remove them from the circulating supply. In this way, it is possible to make the token a little more scarce, potentially increasing its value.
Welly, a Shiba Inu-themed burger restaurant, has announced that the Shiba Inu community will own 15% of the business. Part of the income from the activities will be donated to the community. Additionally, the community will have the ability to burn or reuse these tokens. Welly had previously stated that a portion of the revenue collected in SHIB tokens would be burned.
Meanwhile, as the price of SHIB prepares for another big move, whales continue to hoard it. Two top Ethereum whales have collected a staggering 200 billion SHIB in the last 24 hours.
Shiba Inu has once again become the largest token position for whales in terms of USD value, according to data from WhaleStats.
SHIB was trading down like the rest of the market as investors prepared for May volatility. At the time of publication, SHIB was changing hands, down 6.32% over the past 24 hours at $0.00002092.
