DAMN coin rises 22%, Shibarium claims a startling 1059% increase in user activity
Shibarium’s recently introduced meme coin, DAMN, swiftly captured attention as one of the most popular coins on the market tracking platform DEXTools. Referred to as the “Sol Killer,” DAMN commenced trading on March 18 to rival similar tokens on the Solana blockchain that have been gaining momentum. As per DEXScreener data, the meme coin is currently trading 22% higher, boasting liquidity of US$1.2 million and a trading volume of 471,000. In a recent tweet, Lucie, Shiba Inu’s marketing lead, emphasized that DAMN has attracted 44,000 holders.
The brainchild behind DAMN is Woofswap, which outlined on X the process of acquiring the token via the official website using the BONE token. Individuals without BONE can also purchase DAMN through a centralized exchange like Gate.io. Shibariumscan data shows that the number of active blockchain accounts increased from 667 on March 17 to 2,482 as of March 18. Furthermore, new accounts saw a significant increase to 730 from 63 during the same timeframe. This upsurge coincided with the introduction of the new token on the blockchain, which was launched in August 2023.
In a tweet dated March 18, Lucie expressed optimism that Shibarium would emerge as one of the “top 5 blockchains” due to its exceptional community support. Despite a decline in Shiba Inu prices, the community’s token burn rates have risen, experiencing a 305% surge in the past 24 hours. A single transaction resulted in the burning of 25 million tokens, while multiple other transactions burned 1 million tokens each. While the cryptocurrency community maintained a positive outlook on Shiba Inu’s performance, the introduction of this new meme coin on the Shibarium blockchain was anticipated to further enhance investor confidence.
