SHIB Burn Up 140% Since Starting ETHToronto Ticket Giveaway

SHIB Army members keep their eyes on the prize as SHIB Token dishes out a couple of free conference tickets.

Shiba Inu burning in Toronto, as he sees ETHTORONTO tickets.
Created by Kornelija Poderskytė from DailyCoin
  • Shiba Inu is the title sponsor of the upcoming Blockchain Futurist Conference.
  • SHIB Token gets a gold check on Twitter, and the community reacts with fire.
  • Shy Kusama previously disclosed what to expect from the upcoming event.

While most of the Shiba Inu community is watching developments in the Summer of Shibarium, SHIB Token announced a contest to receive two free tickets to the highly-anticipated Blockchain Futurist Conference. The two-day event is set to be a turning point for the cryptocurrency project.

Lucie, the marketing specialist of all things Shiba Inu, recently announced a 24-hour contest for two tickets to the biggest Web3 event in Canada. Here’s how to enter:

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  1. Retweet Lucie’s post to spread the word about the conference.
  2. Follow the official Shibarium Tech account on X, former Twitter.
  3. Comment with the hashtags #SummerOfShibarium and $BONE.

Further on, the winners of this giveaway will be posted on Shiba Inu’s social media this week, as the contest closes on 27th July 2023. The lucky winner will witness major developments, most notably – Shibarium’s birth in a historically important place for crypto, as Toronto, Canada, is the official birthplace of Ethereum.

SHIB Burn Accelerates Despite Community Division

Following the news, the Shiba Inu community has set 22,185,355 of their beloved canine tokens ablaze in the last 24 hours. This comes exactly a week after Shiba Inu community members heatedly debated how many tokens would have to be burnt monthly to make a visible difference in SHIB’s market price.

A week ago, prominent members of the SHIB Army shared their projections of burning five trillion $SHIB tokens a month as a reference. While the devs haven’t confirmed the projection, and many traders had different opinions on whether this would boost Shiba Inu’s price to one cent, the community didn’t forget about the burns this week.

However, it’s a mutual understanding that Shiba Inu’s burn rate would significantly increase once the Shibarium mainnet is launched. Shiba Inu’s Layer-2 solution has an auto-burning mechanism, demonstrated several times via leaked screenshots.

On the Flipside

  • The 22 million $SHIB tokens set ablaze in the last 24 hours are still far from the burning results in May.
  • Billions of SHIB tokens have been set ablaze during this time, breaking the yearly record twice in two weeks.

Why This Matters

Shiba Inu’s project developments can set an unprecedented case for crypto, as SHIB would become the first memecurrency with its own Layer-2 scaling solution.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.