- SHIB daily burn rate heats up as Shibburn releases $BONE tracker.
- One anonymous Good Samaritan blazes over 100M $SHIB in one go.
- BONE and SHIB both plunged since late August despite Shibarium launch.
The official Shiba Inu (SHIB) burning tracker Shibburn recorded a 317% upsurge in the canine crypto burning procedure. With 130,529,064 $SHIB tokens set ablaze in the last 24 hours, the community’s joint efforts to reduce the circulating supply of the memecurrency seem to bear fruit.
The largest transaction involves a whopping 100,776,829 $SHIB tokens sent to the bottomless pit in one go by an anonymous SHIB Army member. However, the 317% upped daily Shiba Inu burn rate is overshadowed by the SHIB Army’s frustration with the dropping price of both Shiba Inu and Bone ShibaSwap (BONE).
Sponsored
SHIB investors previously estimated a 5 trillion Shiba Inu token burn every month, but Shibburn UI on Shibarium would have to be released first.
The discontentment is growing on Twitter, as several SHIB supporters pointed out that the monthly $SHIB burning results are “completely different from what was expected.” In response, Shiba Inu Marketing Lead Lucie SHIB insisted that Shibarium’s mainnet is just one month in. Therefore, it will take time to accumulate the fees needed for the burning swap. Naturally, a hike in Shiba Inu burns is reasonably expected with the increased use of Shibarium.
SHIB Army in the Crossfire: Advisor Deletes Account
The merciless crypto bears couldn’t leave Shiba Inu alone, battering the canine coin with a 9% deficit in the last 30 days. Shibarium’s gas fee token, $BONE, plunged by 31% in the last 30 days, trading below the crucial support level of $0.80.
The quick drop for $BONE also concerns $BONE’s smart contract renunciation, which is pivotal for new major exchange listings. As if that wasn’t enough, SHIB: The Metaverse Lead Advisor Marcie Jastrow has reportedly deleted her Twitter account, causing a fuss on the microblogging platform.
Despite no confirmed reason from the Shiba Inu team, bullying has been the central issue of the community for the last few days. The move to delete her account could have been related to the coordinated attack by Trophias and other former members of the SHIB Defense Breed, which was dissolved earlier this year.
Sponsored
In response to the fear and uncertainty, Shiba Inu’s Lucie SHIB disclosed that she “noticed many bad actors & bullies taking advantage of the red market,” specifically targeting the Shiba Inu community in recent days. “No, I’m not erasing my account,” concludes SHIB’s marketing lead.
On the Flipside
- To clarify the Shibburn daily burn rate, Shibburn has launched a Bone ShibaSwap tracker to determine how much $BONE was accumulated for the swap pair in real-time.
Why This Matters
Cryptocurrency burning is an efficient way to maintain a cryptocurrency’s price in the long term.
Read DailyCoin’s top crypto news:
PayPal Extends PYUSD Accessibility to Venmo Users
Balancer Hack Traced to DNS Social Engineering Attack
