Shibarium Meme Coin DAMN Explodes: Witnesses Double-Digit Price Surge Overnight

March 20, 2024

The recent explosive debut of a meme coin on Shiba Inu’s Layer-2 scalability solution Shibarium underscores the popularity and potential the chain holds, as well as the vibrant community backing it.

As the meme coin craze erupted in the cryptocurrency market, with the frenzy leading to rapid price increases , the Shiba Inu community came up with an experimental meme coin dubbed DAMN on Shibarium. 

Launched Monday, DAMN, hailed as the “SOL Killer,” recorded a double-digit price surge within just a day.

Targeted to rival the rising tokens on the Solana blockchain, DAMN swiftly attracted attention and became one of the hottest coins on the trading analytics platform DEXTools. Less than 24 hours after its launch, DAMN recorded an over $256,000 trading volume and a market capitalization of $1.61 million.

It later traded at $0.00002148, representing an over 39% increase in its value, with a 24-hour trading volume of over $356,000 and a market cap of $1.4 million. Following this impressive feat, data from DEXScreener showed that DAMN traded 22% higher the following day with $1.2 million liquidity and a trading volume of $471,000. 

The Shibarium Tech marketing specialist who uses the X handle @LucieSHIB shared this week that the meme coin on Shibarium attracted over 44,000 holders. Amid the chatter surrounding DAMN, Lucie posted a tweet that read, “In case you don’t get it, I’m working for Shibarium, not just 1-3 tokens, but a blockchain L2. Our goal is to boost Shibarium, and ‘Damn’ is just one of the many nice Shibarium activities. Many things are coming to Shibarium, but we, as a community, can also help to spread awareness and have fun.” 

The tweet underscored a broader mission behind Shibarium, emphasizing its ambitions beyond individual tokens to elevate the entire blockchain ecosystem. With promises of upcoming initiatives and a call to action for community involvement, Shibarium seemed poised for further growth and engagement.

The genesis of DAMN is a tale of inspiration and community collaboration. It began as an experiment, with individuals sending $BONE to the developer’s wallet. Remarkably, within a mere 24 hours, they amassed an impressive 500,000 BONE. 

The funds were then allocated as liquidity and subsequently burned, symbolizing the project’s commitment to value creation. Notably, DAMN’s moniker emerged from a collective effort within the SHIBARMY, where members participated in a poll on X (formerly Twitter) to decide its name, highlighting the democratic ethos and grassroots nature of its inception.

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