According to information provided by the Shibburn explorer, the SHIB military has removed a sizeable sum of Shiba Inu meme money over the past week.
However, fewer SHIB were lost in these fires than in the hoard that had been transferred to worthless wallets throughout the previous week.
522 million SHIB are placed on a fire.
This time, the SHIB community moved a total of 522,956,324 Shiba Inu meme dollars inside a single week. There has been a reduction of 63.97% from the previous week.
According to the same source of information, there were 10 transactions totaling 35,772,688 SHIB sent to dead-end wallets within the previous 24 hours. The largest one, created by an anonymous crypto whale, carried 12,999,999 SHIB 17 hours earlier.
Due to these fires, the burn charge is now 80.69% lower than it was on Friday, when the SHIB military destroyed over 180 million Shiba Inus.
Burning tokens is a technique used to increase the scarcity of a certain cryptocurrency by reducing its supply in circulation. In theory, this should help to increase its worth in the long run. The SHIB community has so far been successful in locking 410,651,942,289,028 SHIB in entire unspendable wallets.
However, that doesn’t seem to have had a significant impact on the Shiba Inu value as of yet.
Since each transaction on Shibarium will contribute to that by way of petrol fees, which will be paid in BONE tokens, the community anticipates that as the launch of the Shibarium mainnet draws closer, trillions of SHIB will be burned on a weekly basis. A portion of these fees will be set aside for contractors, while the other half will be saved to be converted into SHIB before being burned.
Shytoshi Kusama declares his attendance at the ETH Toronto event.
according to U. The unnamed leader of the SHIB developer team has now officially announced that he will be attending the ETH Toronto event, which will take place during the Blockchain Futurist Convention in Toronto, Canada on August 15–16.
He’ll deliver a speech via AI and, most likely, remain unnamed without even exposing his real appearance.
The community anticipates that the Shibarium mainnet will launch shortly after the convention is over because, according to a recent tweet from SHIB’s marketing specialist Lucie, the SHIB team is actually close to finishing all of the preparations and launching the mainnet in the end.