DAMN! Shibarium's Meme Token Soars Over 523%

Shibarium welcomes DAMN protocol, a meme token that has soared over 523% in recent days, attracting attention within the Shiba Inu community. Its burn mechanism, fueled by BONE, has contributed to its deflationary nature and value appreciation. The community is now exploring the possibility of listing DAMN on centralized exchanges, such as MEXC, Gate.io, and OKX.

Shibarium's Newest Meme Coin, DAMN, Skyrockets with Over 523% Growth

Shibarium, the Layer-2 network for Shiba Inu, has welcomed DAMN, a newly launched meme coin that has witnessed an extraordinary surge in value, recording an unprecedented 523% growth in a matter of days.

DAMN's Meteoric Rise

According to DexScreener, a reputable crypto tracking platform, DAMN has experienced a remarkable 201% increase in the past 24 hours alone. This surge has driven its price to $0.00007674 and 0.00008208 against its trading pair, WBONE. Moreover, DAMN recently reached an all-time high of $0.00009511, boasting a market capitalization of over $6.5 million.

Since bottoming out at $0.00001526 on Monday, DAMN's recent peak represents an exceptional growth rate of 523.26% within a mere three-day period. The Shiba Inu community has taken notice of DAMN's stellar performance.

Shiba Inu community members have expressed optimism about DAMN's potential. Dorry, a prominent member, characterized DAMN as the beginning of a promising J-Curve, indicating belief in its future direction. LucieSHIB, a Shiba Inu content marketer, voiced surprise at DAMN's rapid rise, suggesting its immense potential for substantial gains.

Innovative Token Burning Mechanism

A key factor contributing to DAMN's popularity is its innovative token burning mechanism. The DAMN team has devised a system that incinerates BONE, the Shibarium gas token, with each transaction. This deflationary approach not only reduces the circulating supply of DAMN tokens but also assists in elevating the scarcity and value of both DAMN and BONE.

Woofswap's Role in DAMN's Launch

DAMN was introduced to Shibarium by Woofswap, a decentralized exchange built on the Layer-2 network. Upon its public trading debut, the token swiftly attracted significant interest, soaring 39% within 24 hours to become a top gainer on DEXTools.

The project team has continued to implement measures to bolster demand, including the recent incineration of its liquidity pool. Woofswap confirmed in a recent announcement on X that the team had successfully burned the LP.

Community Drive for Centralized Exchange Listings

In light of DAMN's remarkable performance, members of the Shiba Inu community are advocating for its listing on centralized exchange (CEX) platforms. Randomartz, a community member, has proposed that DAMN's over 44,000 holders contribute 10 BONE tokens each, amounting to over $387,000, to facilitate its listing on CEXs such as MEXC, Gate.io, and OKX.

This development follows shortly after SHEboshi, a DN404 token blending the functionality of ERC-20 and ERC-721 standards on Ethereum, secured its first exchange listing on CoinW, a Dubai-based cryptocurrency platform. SHEboshi quickly gained recognition upon its listing on CoinW, which commenced trading of SHEB/USDT pairs on February 23rd, adding the token to its MEME & NFT trading section. Despite initial trading activity, the platform temporarily suspended token deposits and withdrawals until February 24th to ensure a seamless operational rollout.