- Shibarium welcomes DAMN protocol, a token that has recorded over 523% growth in days.
- Plans to list DAMN on top exchanges is growing in the community.
Sol Killer (DAMN) protocol, a newly launched meme coin on Shibarium, Shiba Inu Layer-2 network has seen its price increase by 523%, propelled by a recent burn that reduced the token’s supply.
The Rise of DAMN
According to crypto tracking website DexScreener, DAMN has increased by 201% in the past 24 hours alone. This rise has pushed its price to $0.00007674 and 0.00008208 versus its trading pair, WBONE. Furthermore, DAMN recently reached an all-time high of $0.00009511, outperforming with a market capitalization of over $6.5 million.
Given that the Shibarium meme coin bottomed at $0.00001526 on Monday, its recent peak represents a 523.26% growth rate in three days. Shiba Inu community members have taken note of DAMN’s amazing performance.
Dorry, a Shiba Inu community member, described DAMN as the start of a promising J-Curve, suggesting hope about the future direction. Additionally, LucieSHIB, a Shiba Inu content marketer, expressed surprise at DAMN’s swift rise, suggesting its potential for big benefits.
0.00009488.
With 2 zeros gone, can we then be called @DAMNsolkiller?!
😭😂🙏🏼 $DAMN pic.twitter.com/hpGOoPpfHG— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) March 20, 2024
One of the primary drivers of DAMN’s popularity is its creative approach to token burning. The DAMN team has built a system that burns BONE, the Shibarium gas token, with each transaction. This deflationary method not only limits the circulating supply of DAMN tokens but also helps to increase scarcity and value for both DAMN and BONE.
DAMN was brought to Shibarium by Woofswap, a decentralized exchange built atop the Layer-2 network. Shortly after it began trading publicly, the token rapidly drew substantial interest, jumping 39% within 24 hours to become a top gainer on DEXTools.
The team behind the project has continued to take steps to increase demand, including the recent burning of its liquidity pool. Woofswap confirmed in a recent post on X that the team had successfully burned the LP.
Shiba Inu Community Hints at Listing DAMN on Centralized Exchanges
In light of its recent performance, members of the Shiba Inu community are looking at getting the token listed on Centralized Exchange (CEX) platforms.
Randomartz, a community member, has recommended that DAMN’s over 44,000 holders pool 10 BONE tokens each, worth more than $387,000, to help DAMN protocol get listed on centralized exchanges. The targeted exchanges include MEXC, Gate.io, and OKX.
This development comes only shortly after SHEboshi obtained its first exchange listing with CoinW, a Dubai-based cryptocurrency platform, as previously reported by Crypto News Flash.
SHEboshi, a DN404 token that combines the features of the ERC-20 and ERC-721 standards on Ethereum, has swiftly gained notice following its listing on CoinW. The exchange started trading SHEB/USDT pairs on February 23, adding the token to its MEME & NFT trading section. Despite the initial commencement of trading, the platform temporarily stopped token deposits and withdrawals until February 24, to ensure a smooth operational rollout.
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