- Shiba Inu’s burn rates soared, marking a pivotal moment for this popular meme coin.
- An anticipated upgrade to the SHIB gaming ecosystem is expected to drive further interest and engagement.
- The burn surge led to nearly 7,400% increase in the destruction of SHIB coins, showcasing a committed community effort.
Shiba Inu burn rates skyrocket by nearly 7,400% while a significant game upgrade awaits, promising new developments for the SHIB community.
SHIB Burns Skyrocket by Almost 7,400%
Overnight, Shiba Inu experienced an unprecedented surge in its token burn rate, skyrocketing by nearly 7,400%. The Shibburn crypto wallet tracking platform reported that approximately 2,376,919 SHIB coins were burned in a short period. This significant reduction in circulating supply is a part of the broader strategy to enhance the token’s value by decreasing its overall supply.
Details Behind the Burn Surge
In the latest burn transactions, five significant movements were tracked, including transfers of 1,000,000 and 897,397 SHIB coins out of circulation. Despite this aggressive burn action, the market price of SHIB saw minimal impact, reflecting the meme token’s resilient market dynamics. The current circulating supply stands at around 583 trillion, a substantial reduction from its initial one quadrillion supply.
SHIB Game Upgrade to Launch This Week
Adding to the excitement, Shiba Inu’s marketing lead, Lucie, announced that a new Web3 version of the Shiba Eternity smartphone game is set to be released on the Shibarium network this week. This eagerly awaited update promises to integrate various aspects of the Shiba Inu ecosystem, offering players enhanced gameplay and investment opportunities through LEASH token staking.
Incentives and Player Engagement
To gain access to the new game version, players will need to stake LEASH tokens, granting them exclusive entry and aligning them with the elite ShibArmy. Furthermore, holding specific NFTs such as Shiboshi, Sheboshi, or Shiba Eternity Lore will be requisite for full gameplay capabilities, ensuring robust engagement within the community. The upcoming launch is poised to generate significant interest and potentially new highs for user participation.
Conclusion
The considerable burn of SHIB tokens coupled with the innovative launch of the Shiba Eternity game illustrates a proactive approach by the Shiba Inu team to maintain and enhance its market position. While the actual market price of SHIB remains relatively unaffected by these burns, the long-term effects on supply could yield favorable conditions for future value growth. With continued community support and strategic developments, Shiba Inu is positioning itself as a resilient player in the crypto space.
