The popular meme coins’ burn rate has surged to 1,351% in the previous 24 hours, according per the latest statistics released by the Shibburn tracker inside the SHIB community.
Enthusiastic SHIB-loving people and organisations have managed in eliminating a sizable portion of Shiba Inu from circulation—140,090,900 SHIB meme coins—after over 100 million SHIB burnt per Shibburn.
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That much SHIB was burned in seven deals, the biggest of which moved a staggering 100,000,000 Shiba Inus. 17,988,231 SHIB were carried by the second largest.
The Shibburn website indicates that as of right now, 410,662,414,359,954 Shiba Inu coins have been disposed of by the SHIB army, with an additional 410,662,414,359,954 SHIB being held in staking pools.
100M Shiba Inu Tokens Destroyed: SHIB Burns Spike 1,351%,100M Shiba Inu Tokens Destroyed: SHIB Burns Spike 1,351%
Who is supporting the 100 million SHIB burn? Over the last two weeks, a substantial sum of 550,000,000 SHIB has been moved to an unspendable wallet in many large transactions, as revealed by U.Today earlier this week. It came out that the @theshibdream account on the social networking site X was the one who started these burn transfers.
On the Layer-2 blockchain Shibarium, the individuals behind this account have started a SHIB Dream collection of non-fungible tokens (NFTs) and have been burning a portion of their sales proceeds.
A few days ago, the SHIB team’s social media marketing specialist—who goes as Lucie on social media—unveiled the burner on the X app. In December 2022, the SHIB VIP Social Network was also introduced by user @theshibdream.
A SHIB officer is distributing NFT. The aforementioned Lucie said on the X app that she would want to hold a competition for one of her followers to win a non-fungible token with a SHIB theme. Lucie clarified that she had received the NFTs through a promotion from SHIB Magazine, which had just opened and was giving away NFTs of the magazine covers to the first 1,000 registered readers.
Lucie will now select a happy winner from among those who have commented on her article, mentioning their favourite Shibarium project or a suggestion for a Shibarium NFT.
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After that, people must follow two Lucie-named SHIB-themed accounts and RT her original post. Users have two weeks to attempt and win an NFT from her with a SHIB theme; she will reveal the winner on November 24.
100M Shiba Inu Tokens Destroyed: SHIB Burns Spike 1,351%,100M Shiba Inu Tokens Destroyed: SHIB Burns Spike 1,351%,100M Shiba Inu Tokens Destroyed: SHIB Burns Spike 1,351% , Shiba Inu coin Crypto news, Shiba Inu coin News