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The official Shiba Inu account on the X/Twitter social media network has made a major shoutout to the whole SHIB community. The reason for that was the recent significant milestone reached by Shibarium gas token Bone ShibaSwap (BONE) this week.

According to the tweet, BONE has received the largest number of votes and won the “#1 people’s choice” nomination on MarketCoinpedia.

The SHIB tweet stressed that this was possible due to the immense support provided by the Shiba Inu army.

BONE's market performance

Despite recent listings and other BONE achievements that have been reported recently, the token’s price has been moving downward. Over the past 24 hours, BONE has plummeted by a mammoth 14.85%, dropping from $0.8578 to the $0.7304 level, where it is trading at the time of writing.

One of the major listings scored by BONE recently was that made by the Gate.io top exchange approximately a month ago. This platform expanded the trading capabilities of BONE, adding it to its margin trading list and also making it available as a borrowable crypto asset for its customers.

SHIB burns skyrocket immensely

The SHIB burn rate has increased tremendously since yesterday morning. Within the last 24 hours, this important metric has shown a massive 2,355% jump. This was possible due to the number of burned meme coins surging to 110,384,799 SHIB.

The aforementioned record spike was reached in half a dozen burn transactions. The largest of them moved 105,469,546 Shiba Inu to unspendable blockchain addresses. The other two biggest burn transfers carried 3,370,930 and 1,306,865 SHIB; both preceded the 105 million transaction.

According to the same data source, in the month of March, the Shiba Inu team, together with the community, managed to dispose of a mind-boggling 15,644,329,668 SHIB meme coins, pushing the monthly burn rate to rise 2,230%.

The majority of it was destroyed by the SHIB team, though. On March 9, they sent 13,610,153,841 meme coins to the virtual furnace. Aside from SHIB, they also burned a bit of BONE and LEASH tokens.

All of these SHIB team burns were possible thanks to Shibarium and its gas fees paid in BONE; the team converted part of them into SHIB and LEASH and burned them.