- 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.
Read CRYPTONEWSLAND on
google news
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.
Read also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
