More than 8 billion SHIB tokens burned is enormous for a very young but dynamic ecosystem like Shiba Inu. However, who says burn says price increase. With such an astronomical figure, can we hope for a SHIB bull run down the road? We tell you everything in this article.
779,000% increase in SHIB burn rate
Apparently, everything is going well for Shiba Inu. After having exploded the Shibarium counters, by the crossing the 105 million transaction markwe learn that the burning rate of SHIB tokens has also increased considerably.
A recent publication on Bitcoinist also highlighted a tweet shrouded in precise details on this burn, signed Shibburn.
“ Over the past 24 hours there have been a total of 8,620,452,653 SHIB tokens burned And 6 transactions. Visit http://shibburn.com to see the overall total SHIB tokens burned, circulating supply, and more. »
Certainly, this information does not corroborate with the publication of LUCIE, the marketing strategist of Shiba Inu, affirming that this burn was done in a single transaction, but it is certain that the initiative of this kind remains very rare.
Bitcoinist indeed clarified that this massive burn was made by the Shiba team. The latter having carried out an operation of the same ilk on December 4 : 8 billion SHIBs burned too.
Where do these tokens come from? Of the network fees accumulated on the layer 2 Ethereum blockchain of Shiba Inu, Shibarium.
Basically, Shytoshi Kusama’s team kept their promise: 70% of these transaction fees will go into “dead wallets” to increase the rarity level of SHIB.
Logically, this should have a positive impact on the SHIB price. And this is what we were able to verify on CoinGeko: increase of 3% over 24 hours. At the time of writing, America’s favorite memecoin was trading at $0.000010.47 per coin.
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