Marketing Specialist Shares Exciting Update for Shiba Inu Community
Lucy, the candid marketing specialist for the Shiba Inu ecosystem, has shared an exciting update that could lead to significant SHIB burns. She revealed that something special is being developed in collaboration with Shibacals, a project that leverages blockchain technology to authenticate physical collectibles. While specific details about this partnership remain undisclosed, Lucy encouraged the Shiba Inu community to prepare for “some SHIB burns.”
Community Reaction:
As expected, Lucy’s statement generated positive excitement among community members, sparking curiosity about whether this initiative could result in burning millions or even trillions of SHIB tokens. Other members also expressed their anticipation for the upcoming SHIB burns.
Increased SHIB Burns:
Notably, the forthcoming burns are expected to reduce Shiba Inu’s enormous supply of 589.27 trillion tokens, potentially increasing the value of the remaining coins. The community has been relentless in its efforts to shrink the supply through burns. In recent transactions, 13.4 billion SHIB were burned, bringing the total burns using Shibarium to 56 billion SHIB. The Shiba Inu ecosystem team also contributes to the burn campaign, using a portion of Shibarium’s gas fees. Their sixth burn with Shibarium started in March.
Despite halting Shibarium-based burns due to low transaction volumes and ongoing burn portal development, the community has taken the initiative to remove significant amounts of SHIB from circulation, burning 918.07 million tokens in June alone. July began on a positive note, with an unknown user sending over 290 million SHIB to a dead wallet.
SHIB Burn Rate Drop:
At the time of reporting, the SHIB burn rate had plummeted by nearly 100% over the past 24 hours, with only 203,721 SHIB burned. However, with Lucy and Shibacals “cooking something special” for SHIB burns, it’s only a matter of time before more tokens are permanently removed from circulation.
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Meanwhile, SHIB is trading at $0.00001711, reflecting a 0.59% drop in the past 24 hours. The token’s 24-hour trading volume decreased by 7.59% to $167.13 million at the time of publication.
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