- The Shiba Inu community has been buzzing with anticipation following a veiled announcement from Lucie, the marketing lead.
- Lucie hinted at imminent developments, particularly underscoring the likelihood of significant SHIB token burns.
- A statement from Lucie left many intrigued, as she assured the collaboration with Shibacals Collaboration Studio for the upcoming surprise.
Lucie from Shiba Inu teases an exciting event aimed at reducing SHIB token supply, raising hopes for boosted value amid burning activities.
Imminent Excitement for Shiba Inu Enthusiasts
Recently, in a post on X (formerly known as Twitter), Lucie hinted at a substantial surprise set to unfold within the Shiba Inu ecosystem. While the details remained under wraps, she confirmed working closely with Shibacals Collaboration Studio to actualize this thrilling development.
Shibacals specializes in creating premium merchandise and authenticating collectibles for various Web3 companies. Given the nature of their services, it’s plausible that their collaboration with Lucie relates to using Shibacals’ merchandise for orchestrating token burns, which are critical for addressing the overwhelming SHIB supply.
Lucie’s announcement encouraged the Shiba Inu community to brace for a significant SHIB token burn. Although she didn’t specify the exact method of this burning process through Shibacals, the expectation is a notable reduction in circulating SHIB tokens, potentially increasing their value over time.
The practice of token burning involves the permanent removal of a specific number of tokens from circulation, typically by sending them to a ‘burn’ or ‘dead’ wallet. This tactic is often employed to create scarcity, which can lead to a rise in the token’s value.
Despite the cryptic nature of her message, the Shiba Inu community reacted positively. Many members posed questions regarding the volume of tokens intended for burning, while others expressed eagerness for the impending event.
Continuing the SHIB Burn Trend in July
Lucie’s mention of another SHIB burn aligns with the ongoing trend observed in July. Data from Shibburn, which tracks Shiba Inu token burning, indicates a substantial 290,434,205 SHIB tokens were sent to burn addresses in a single recent transaction.
This burn activity has pushed the overall burn rate up by an impressive 8,596.57%. To date, over 410.7 trillion SHIB tokens have been eliminated from the initial supply, which initially totaled about 999 trillion tokens. Consequently, the circulating supply now stands at approximately 589.2 trillion SHIB tokens.
In June, the Shiba Inu community saw over 918 million SHIB tokens, valued at about $15,901 at the current exchange rates, being burnt across 237 transactions. This upward momentum continued into July, with Shibburn continuously recording multiple token burns daily.
Conclusion
In conclusion, the Shiba Inu community awaits with bated breath the official announcement of Lucie’s hinted surprise, potentially orchestrated through collaboration with Shibacals Collaboration Studio. The anticipated SHIB token burn is set to be a considerable step towards reducing the enormous token supply, thereby fostering scarcity and potentially driving up the token’s value. Community members remain optimistic and prepared for this significant development, showcasing their support through increased engagement and enthusiasm.
