- March 28, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The Shiba Inu team has published the 18th edition of The Shib Magazine, featuring DAMN, the newest meme coin integrated into the Shibarium ecosystem. The publication emphasizes the latest developments and updates on the token, accentuating its impressive achievements and performance in the crypto space.
Shiba Inu Magazine Unveils The Solana Killer, DAMN
On Wednesday, March 27, The SHIB team released the latest edition of its magazine, focusing exclusively on the SOL Killer, DAMN. Highlighting the rapidly growing popularity of the cryptocurrency, The Shib Magazine disclosed that DAMN has become one of the major meme coins of interest to investors in the crypto space.
Delving deep into the story behind DAMN’s inception, the Magazine revealed that Woof, a pseudonymous developer of WoofSwap, a community-driven Decentralized Exchange (DEX), had been the first to introduce the idea of creating a new meme coin exclusively for the Shibarium network. Taking advantage of the recent hype on meme coins in the market, the developers proceeded to create DAMN, recognizing the market’s interest in meme coins as an opportunity for explosive growth.
According to the magazine, DAMN was a token created through the general collaboration of the entire Shiba Inu community. After its successful inception, developers relinquished ownership of the meme coin, burning all Liquidity Provider (LP) tokens in order to enhance transparency and improve security by eradicating the potential for rug pulls and scams.
In an effort to bolster the cryptocurrency’s adoption and elevate its visibility, the Shiba Inu army had united in support of the meme coin, promoting it through social media platforms like X (formerly Twitter) and submitting requests to leading cryptocurrency aggregators such as CoinMarketCap and CoinGecko.
As a result, DAMN underwent a substantial growth spurt, skyrocketing by more than 500% and reaching a trading volume of over $3 million within five days of its launch. The cryptocurrency has garnered considerable attention and engagement within the crypto community, capitalizing on the heightened demand for new and potentially lucrative meme coins to propel itself to new heights.
DAMN’s Unique Qualities As A Meme Coin
One of the unique characteristics of DAMN as a meme coin is its inherent ability to bolster the Shibarium ecosystem. As the cryptocurrency gains momentum, it shines the spotlight on Shibarium, boosting the network’s popularity and adoption.
According to The Shib magazine, DAMN has been one of the key players in Shibarium’s rapid growth lately. The Shiba Inu Layer 2 blockchain solution has witnessed a major increase in its Total Value Locked (TVL), achieving an impressive high of $3.79 million, at the time of writing.
DAMN has also played a potential role in boosting the network activity within the Shibarium ecosystem. The Layer 2 blockchain recently recorded a series of milestones, attributed to the introduction of its new meme coin and the ecosystem’s resilience and steadily growing user base.
