As a researcher with a background in cryptocurrency and blockchain technology, I find the recent announcement from Shiba Inu marketing lead, Lucie, to be an intriguing development. The prospect of a major surprise within the Shiba Inu ecosystem, coupled with the potential for more SHIB token burns, has sparked excitement among the community.
The marketing head of Shiba Inu, Lucie, has shared a mysterious message with the SHIB community, hinting at an upcoming event and implying the possibility of additional SHIB token destruction.
Exciting Surprise Ahead For Shiba Inu
In her latest update on X (previously Twitter), Lucie has hinted at a significant development occurring within the Shiba Inu community. She’s been rather cryptic about the specifics of this event, but she did reveal that she’s collaborating closely with Shibacals Collaboration Studio to bring it to fruition.
Shibacals is a renowned studio known for creating and supplying top-tier merchandise, as well as authenticating collectibles, for leading Web3 businesses around the world. It’s plausible that Lucie’s exclusive announcement could entail using Shibacals’ merchandise to carry out token burns.
Lucie’s post encouraged members of the Shiba Inu community to prepare for a major SHIB token burn. Though she didn’t provide details on how the Shiba Inu team and Shibacals intend to carry out this process, a significant burn event is expected to drastically decrease the current circulation supply of Shiba Inu tokens.
A token burn refers to the irreversible elimination of a predetermined amount of tokens from existence. This operation is typically carried out by transferring these tokens to a designated address, commonly referred to as a burn address or a dead wallet. By decreasing the overall supply through token burns, scarcity ensues and may result in heightened demand and value for the cryptocurrency.
As an analyst, I’ve observed that despite the marketing lead withholding details about the upcoming Shiba Inu surprise, many community members responded positively to the teasing. A handful of individuals have inquired about the number of SHIB tokens the marketing team plans to burn. The excitement for this impending event is palpable among other members, as they’ve expressed their readiness for it.
SHIB Burn Momentum Continues In July
The announcement from Lucie about an incoming SHIB token burn is met with excitement by the community, as it will contribute to the large volume of tokens already burned in July. According to Shibburn, a monitoring platform for Shiba Inu token burns, anonymous users have incinerated an impressive 290,434,205 SHIB. Shibburn further revealed that these tokens were transferred to an inactive wallet and the transaction was completed in one step.
The rate at which Shiba Inu tokens are being permanently removed from circulation, or burned, has increased by a staggering 8,596.57%. This significant surge in burning has caused over 410.7 trillion SHIB tokens to be eliminated from the initial supply. Despite the fact that Shiba Inu’s maximum total token count is around 999 trillion, the circulating supply currently stands at roughly 589.2 trillion due to this escalating burning trend.
In June, approximately 918 million SHIB tokens, equivalent to around $15,901 based on current market prices, were destroyed through 237 separate transactions. The trend persists into July, with Shibburn logging numerous daily token burns.
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2024-07-04 01:12