As per the latest Tweet by MILKSHAKE, a Shiba Inu proponent, more than 37 trillion SHIB tokens (37,105,702,907,107 to be exact) are currently staked on ShibaSwap, Shiba Inu’s native decentralized exchange. While LEASH and BONE presently have 35,533 and 66,224,009 tokens staked, respectively.
Staking SHIB tokens on ShibaSwap is called “Bury”, whereas cultivating new tokens is termed “digging”.
When “burying” BONE tokens, a user obtains tBONE. This gives the owner the ability to join a pool that shares 1% of all BONE per block with its members. When they dig their tokens, the digger also obtains a piece of the BONE-ETH SSLP.
ShibaSwap is powered by the SHIB trifecta, SHIB, BONE, and LEASH. BONE is designed to act as the platform’s governance token, with a total supply of 250 million. BONE token holders can utilize the “Doggy DAO” to propose and vote on ShibaSwap protocol upgrades.
Shiba Inu developments
Welly, the Shiba Inu-themed restaurant in Italy has revealed that the Shiba community will own 15% of the restaurant. A portion of the earnings will go to the SHIB community. Welly has also revealed that they will burn a percentage of the earnings made in SHIB tokens.
Moreover, Shiba Inu has also launched its new burn portal which has burned over 22 billion tokens so far.
Shiba Inu was also the second longest-held token on Coinbase, only behind Cardano (ADA). SHIB was held for a median of 119 days, following ADA’s 121 days.
Even with all the latest developments, Shiba Inu is still struggling in terms of its price movement. At press time, SHIB was trading at $0.00002151. Although the token is up 2.6% on the 24-hour chart, it still has a lot to cover. It is still 10.1% down on the weekly chart and 17.6% down on the monthly chart.