Burning Of Shiba Inu (SHIB) Registers Its Historical Weekly Minimum

2 years ago · Updated 7 months ago

✍️ 27 December, 2023 - 16:01 👤 Editor: Jakub Motyka

For weeks, the burning of Shiba Inu has reached enormous figures.
Little by little they have fallen, reaching a historical minimum for the SHIB token.

Despite this, the burn outlook remains positive as the community adopts new methods.

This week a new minimum has been registered in the burning of Shiba Inu (SHIB) since the launch of the portal that is in charge of this task. During the last 7 days, only 108.61 million SHIBs have been destroyed, a fairly small number compared to previous weeks. Also, this is expected to improve, given that collaborations are forecast to burn SHIB through Shiba Eternity, the card game of the dog token universe.

Shibburn.com, the domain to watch the burning of the token live, has reported that this week the 34 transactions are behind the minimum. Previously, and since its launch, many users participated very actively in this proposal. One whale made several trades to reduce supply, which was barely reflected in its value.

Why Did The Shiba Inu Burn Reach A Minimum?

Recently, the project behind the meme token released Shiba Eternity, a card game inspired by the universe's NFT project. The team behind the game announced that there is a possibility to burn tokens thanks to the players. This means that, for users in the community, this can be a more attractive form of collaboration than through the platform dedicated to this task.

On the other hand, the team has announced that they will take 5% of the profits made from the game and use it for burning. That is, users will have to play and share the game to boost the burning of tokens and, therefore, their value. Shytoshi Kusama said in this regard that “Just by downloading the game, it will be possible to take it to the top of the apps stores. This will thus generate profits from players outside the SHIB community.”

ShibBurn, The ShibArmy's First Burning Tool

The official portal behind the burning was launched on April 23 of this year. The platform worked in collaboration with Ryoshis Vision, offering this token as a reward for burning SHIB, this being a way to incentivize it. Since its launch, the community has burned an amazing sum of 64.01 billion SHIB through thousands of transactions. Thanks to the burning, as well as to the projects developed for the dog universe, it is expected that your value increases little by little in the market.

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