The post SHIB Burn Rate Skyrockets by 360% Amid Early Access Launch of SHIB Metaverse appeared on BitcoinEthereumNews.com.

The Shiba Inu community is making waves as recent updates reveal a sharp rise in SHIB coin burns, coinciding with the much-anticipated launch of the SHIB Metaverse. In the last 24 hours, the burn rate for SHIB tokens surged nearly 360%, indicating a strong community commitment to reducing the circulating supply. Shytoshi Kusama, the lead developer, commented on this momentum, stating, “The community’s dedication to our vision drives these incredible burn rates.” SHIB token burn rate spikes nearly 360% with new Metaverse launch. Community efforts lead to significant supply reduction, indicating strong commitment. SHIB Burns Surge by 360% The Shibburn tracking platform reported an impressive increase in SHIB burns, where a total of 23,726,896 SHIB was eliminated from circulation in just 24 hours. This surge comes in the wake of the SHIB team’s early access launch of their Metaverse, a virtual space designed for interaction and engagement within the SHIB community. Notably, the largest single burn transaction accounted for an impressive 22,988,505 SHIB, highlighting the community’s robust participation. Over the past week, 66,799,664 SHIB tokens were sent to unspendable wallets, effectively removing them from circulation. While the overall burn has sharply increased, it is crucial to note that the burn rate has seen a decline of 47.37% in the same period. The strategy behind these burns is to significantly decrease the supply of SHIB in the market, with expectations of driving up its value. To date, nearly half of the initial supply, approximately 410 trillion SHIB, has been burned, leaving 584 trillion SHIB still in circulation, of which over 5 trillion have been staked by active users. SHIB Metaverse Launches: A New Digital Frontier The SHIB team has rolled out early access to the much-anticipated SHIB Metaverse, offering users a shared virtual environment where they can interact, socialize, and potentially…

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Filed under: News - @ December 28, 2024 1:25 pm