BONE saw its price jump by over 12% over the past week as the amount of Shibarium transactions surged.
Shibarium has been a hot topic of conversation after the platform experienced a massive spike in its total transactions over the past few days. On 1 December, Shibarium’s total daily transactions jumped to 5.1 million, which pushed up the platform’s total transactions to 12,098,567.
However, just the next day, the cryptocurrency enthusiast that goes by the name of ClayBro shared in an X post that Shibarium’s total transactions reached 15 million.
After 15 million transactions #Shibarium has accumulated 3.5 SHIB to burn. In 2 days we have accumulated 3,288,191 #SHIB leveraging Amazon! Open Amazon using this link and anything you would normally purchase will burn shib! https://t.co/5blcTfNwTv amazing job everyone! pic.twitter.com/LIq4eWMwFh
— ClayBro (@ClayBro883) December 2, 2023
While reaching this milestone, ClayBro pointed out that Shibarium has accumulated 3.5 million Shiba Inu (SHIB) tokens to burn.
According to the Shibburn platform, the total SHIB that has been burnt from its initial supply stood at around 410,663,331,981,596 SHIB.
The total circulating supply of SHIB was 580,497,152,135,445 as a result, while the total of SHIB tokens staked was estimated to be around 8,839,515,882,958 SHIB.
See Also: Shibarium Hits 4 Million Transactions On The Network
While a massive amount of daily transactions is not foreign in the Ethereum Layer-2 space, it is certainly new for Shibarium and the broader Shiba Inu ecosystem.
As a result, the massive increase in the platform’s transactions could suggest that Shibarium has entered into a new and more successful era.
The surge in Shibarium’s transactions has certainly had a very positive impact on the price of the platform’s utility token Bone ShibaSwap (BONE).
Data from the market tracking website Coinstats indicated that the price of BONE experienced a more than 12% increase over the past seven days of trading.
See Also: Shiba Inu Developers Unveil Key New Shibarium Feature
However, the price of the meme token has pulled back a bit to trade at $0.7018 after its price took a 2.61% dip since yesterday. BONE’s 24 hour trading volume also took a 29% knock, which caused it to settle at around $8,039,918 at press time.
Meanwhile, SHIB’s price was able to climb by 1.67% throughout the past 24 hours, which brought up its trading value to $0.000008522. SHIB’s weekly performance was also up by about 1.72%.
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