The popular memecoin Shiba Inu (SHIB) is constantly involved in burning activities to increase its market price. The two-year-old community has seen plenty of new ways to burn SHIB this year, including SHIB SuperStore, Shibburn Radio, and the upcoming SB Visa (NYSE:V) Card. Despite the developments, the burn rate cannot maintain a steady flow, as it’s down by 26% in the last 24 hours.
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pic.twitter.com/lSblX66i4q— Orhan Abuzer (@OrhanAbuzer1) November 28, 2022
Shibarium to Give SHIB Burn Rate a Boost?
One of the newest SHIB burning events was held by Shiba Coffee Company, which burned the tremendous amount of 5.3 million SHIB coins. The Shiba Coffee Company burns a certain amount of the canine token with every Italian roast coffee purchased on its website.
November Burn: 5.3 million SHIB gone forever.https://t.co/jxgP2Azs69#shib #shibarmy #burn #SHIBBurnPledge #crypto #decentralized #defi #freedom #free #bone #leash #shibarium #btc #bitcoin #shibainu pic.twitter.com/7TzDF2d7Va— Shiba Coffee Company (@ShibaCoffeeCo) November 28, 2022
Despite no official Shibarium launch date, the developer team set up a social hub for the upcoming Layer-2 solution. On top of that, the mysterious leader Shytoshi Kusama is set to join the World Economic Forum to discuss the future of the metaverse.
When #Shibarium is alive $SHIB will increase huge the burn rate. #SHIBARMYSTRONG— Shib Spain (@ShibSpain) November 28, 2022
On the Flipside
- Even though small burns of the canine tokens are still important, the overall amount of SHIB set ablaze daily rarely impacts its market price.
- Members of the SHIB Army warn that there is a “lies campaign” going on, led by a new project called STATE.
Why You Should Care
Both popular Japanese dog-themed memecurrencies Shiba Inu (SHIB) and Dogecoin (DOGE) heavily contribute towards bringing crypto to the public.
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