Shiba Inu (SHIB): No burn, no bull run, says Shytoshi Kusama

Shytoshi Kusama was very clear on this: “ no burn, no bull run “. And it was heard: the number of SHIBs burned in April exceeded the milestone of 3 billions. Although this only represents half of the achievements of the month of March, the Shiba Inu community remains confident.

3.23 billion SHIB burned for April

The lead developer of Shiba Inu didn’t preach in the desert by inviting SHIB owners to do not stop burning tokens in preparation for a bullish rally. The call has been more or less heard, if we refer to this article published by NEWS BTC yesterday, May 1.

According to published statistics, 3.23 billion SHIBs were burned during the month of April. This required 125 transactions.

Review of SHIB burns for the month of April

3,269,676,832 SHIB tokens were burned during the month of April with 125 transactions »

Note, however, that this achievement is far from that of the previous month. In effect, in the month of March, the total number of SHIBs burned amounts to 6.78 billion SHIBs. However, it took 540 transactions to get there.

Why burn tokens?

In fact, this act, which consists of sending them to a “dead wallet”, is only intended reducing the total supply of a cryptocurrency.

Thus, in the event of mass sending of SHIB to a “burning address”, normally known to all, the rarity level of the memecoin becomes high. And as a corollary, its price will increase.

Unfortunately, the number of SHIBs burned does not seem to be enough to propel him to the moon.

SHIB price evolution over 180 days

At the time of writing this article, the Shiba Inu is trading at $0.00000994. That is a drop of 11.2% over 30 days.

Koyo, first SHIB burner from March

It is not easy to separate, so easily, from its holdings in SHIB by the burn. But given the effectiveness of this process, some investors are getting down to it.

Such is the case of Koyo who sent 1.10 billion SHIB on April 9. 5 days later, it burned another 1.49 tokens. His achievements in March seem substantial to some observers.

Despite all this, achieving the goal a 1 cent SHIB seems distant. We will have to be even more active in terms of burn to get there. Hence the recurring calls to burn from some members of the Shiba Inu community.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential!

Similar Posts