Shibarium's SRC-20 Tokens Now Support 'SHIB Burn'

Exciting news from the Shiba Inu network: Shibarium's SRC-20 tokens now support SHIB burn.

Find out about the new burn address, the increasing popularity of these tokens, and how Shibarium's transaction count has surpassed 200 million.

WoofSwap Announces SHIB Burn Support on Shibarium's Network

Shibarium, the Layer 2 network associated with Shiba Inu (SHIB), has made a significant announcement through its decentralized exchange (DEX) WoofSwap.

On December 26, 2023, WoofSwap revealed that Shibarium’s SRC-20 tokens now support SHIB burn. SRC-20 tokens are the general term for tokens issued on the Shibarium network.

As of the time of writing, the official WoofSwap website lists around 50 types of SRC-20 tokens, including 'shibs', 'bones', 'woof', and 'SPNK'.

Shibarium’s New Feature: Burn Address for SRC-20 Tokens

Shibarium is known for allocating a portion of the fees collected from on-chain transactions to the 'purchase and burn' of SHIB.

The latest development is that SRC-20 tokens are now equipped to support the SHIB burn process. Additionally, a burn address has also been announced, marking an important step in the network's functionality.

Growing Popularity of SRC-20 Tokens in Shibarium

The number of SRC-20 token holders on Shibarium seems to be increasing gradually. At the time of writing, the number of token holders is reported to be '22,931 for shibs, 6,388 for bones, and 4,279 for woof'.

For more detailed information on the trading volume, price, and market capitalization of each SRC-20 token, interested parties can visit the WoofSwap website.

As of December 28, 2023, Shibarium has surpassed a total of 200 million transactions. This is a notable increase from the 160 million transactions recorded on December 22, indicating a steady rise in activity on the platform.

>> Read the latest SHIB-related articles here.