Vitalik burns $6.7B of Shiba to reward generous hodlers
Vitalik Buterin has burned nearly half of Shiba’s supply in response to the “generosity” of the ‘dog token communities.’ Ethereum co-founder Vitalik Buterin has burned nearly half of the supply of the popular Dogecoin clone, Shiba Inu (SHIB).In a statement embedded into the transaction on May 16, Vitalik Buterin explained why he decided to burn $6.7 billion worth of SHIB tokens, emphasizing the “generosity” of the “dog token communities.”“I’ve actually been impressed by how the dog token communities have treated the recent donations! Plenty of dog people have shown their generosity and....
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After the dogecoin hype invoked a new ERC20 token project called Shiba Inu, the crypto asset has been making waves throughout the crypto industry. On Wednesday, the cofounder of Ethereum, Vitalik Buterin donated $1 billion worth of Shiba Inu to India’s Crypto Covid Relief Fund. Then a few days later on Sunday, Buterin decided to burn 410.24 trillion Shiba Inu tokens worth over $6 billion using today’s exchange rates. Buterin Burns $6.6 Billion Worth of Shiba Inu Tokens A new token called Shiba Inu (SHIB) has been a topical discussion within the digital currency community, aside....
The burning of SHIB tokens has become an important part of the Shiba Inu community. Each week, tokens are sent to a ‘burn’ address by community members as they try to reduce the supply of the token. This is why the introduction of a burn mechanism for the Shibarium Layer 2 network is a welcome development for the community. Lead Dev Says Shiba Inu Burn Portal Is Coming In a tweet shared on X (formerly Twitter) on Monday, Shiba Inu lead marketer LUCIE shared a much-anticipated announcement with the community. Lucie revealed in a screenshot of an exchange with the developer that a Shiba Inu....
In a rather unexpected turn of events, the Shiba Inu (SHIB) burn rate has plummeted by a staggering 79.89% in just 24 hours. Once considered the cornerstone of Shiba Inu’s deflationary strategy and a key driver behind the meme coin’s long-term value, this dramatic decline in token burns now sparks serious concerns about what’s behind […]
Shiba Inu’s layer-2 network, Shibarium, has suffered a significant decline in its daily transaction metric, providing a bearish outlook for the top meme coin. This comes as the SHIB price looks to stage a rebound alongside the broader crypto market. Shiba Inu’s Shibarium Suffers Crash In Daily Transactions Shibariumscan data shows that daily transactions on Shiba Inu’s layer-2 network crashed from just over 4 million on August 23 to 1.09 million on August 24. The crash further extended on August 25 as the network recorded 624,140 transactions on the day, which represented a 2-month low....
Shiba Inu marketing lead, Lucie has made a cryptic announcement to the SHIB community, indicating that something “special” was set to take place and highlighting the potential for more SHIB token burns. Exciting Surprise Ahead For Shiba Inu In a recent X (formerly Twitter) post, Lucie teased about a major surprise set to commence in […]