- Over 100 million SHIB tokens were transferred to a dead wallet, contributing to ongoing token burns.
- The recent token burns, totaling 135,933,606 tokens in 24 hours, may affect Shiba Inu’s price, which is currently at $0.0000073.
- Shiba Inu’s marketing strategist emphasized community involvement in token burns through Shibarium.
The Shiba Inu (SHIB) community witnessed a remarkable token burn as over 100 million SHIB tokens were sent to a dead wallet. This massive transfer adds to the ongoing token burns, which have been a critical focus for Shiba Inu lately.
Over the last 24 hours, an astonishing 135,933,606 SHIB tokens were burned, contributing to 521,814,163 tokens burned in the past week. The burning process has raised questions about its potential impact on the meme coin’s price, which currently stands at $0.0000073.
The emphasis on community involvement makes these token burns even more intriguing. A Shiba Inu team member, known as Lucie, recently shed light on the burn strategy, stating that burns are set per transaction and depend on the level of community engagement. Lucie encouraged SHIB holders to support this collaborative effort between developers and the community, highlighting that it’s not merely a call to the developers but a joint endeavor.
Moreover, Lucie revealed that the Shibarium team primarily focuses on strengthening the Bone ShibaSwap token (BONE), ensuring investor interests are safeguarded. To provide maximum protection, they’ve implemented advanced security measures, including a timelock contract and a decentralized multi-signature wallet.
In a separate development, Shibarium achieved a significant milestone as it processed over seven million RPC requests for the network within just one week. This achievement underscores the growing interest in Shiba Inu’s ecosystem and its potential impact on the broader crypto landscape.
