Vitalik burns $6.7B of Shiba to reward generous hodlers
Vitalik Buterin has burned nearly half of Shiba’s supply in response to the “generosity” of the ‘dog token communities.’ Ethereum co-founder Vitalik Buterin has burned nearly half of the supply of the popular Dogecoin clone, Shiba Inu (SHIB).In a statement embedded into the transaction on May 16, Vitalik Buterin explained why he decided to burn $6.7 billion worth of SHIB tokens, emphasizing the “generosity” of the “dog token communities.”“I’ve actually been impressed by how the dog token communities have treated the recent donations! Plenty of dog people have shown their generosity and....
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After the dogecoin hype invoked a new ERC20 token project called Shiba Inu, the crypto asset has been making waves throughout the crypto industry. On Wednesday, the cofounder of Ethereum, Vitalik Buterin donated $1 billion worth of Shiba Inu to India’s Crypto Covid Relief Fund. Then a few days later on Sunday, Buterin decided to burn 410.24 trillion Shiba Inu tokens worth over $6 billion using today’s exchange rates. Buterin Burns $6.6 Billion Worth of Shiba Inu Tokens A new token called Shiba Inu (SHIB) has been a topical discussion within the digital currency community, aside....
The burning of SHIB tokens has become an important part of the Shiba Inu community. Each week, tokens are sent to a ‘burn’ address by community members as they try to reduce the supply of the token. This is why the introduction of a burn mechanism for the Shibarium Layer 2 network is a welcome development for the community. Lead Dev Says Shiba Inu Burn Portal Is Coming In a tweet shared on X (formerly Twitter) on Monday, Shiba Inu lead marketer LUCIE shared a much-anticipated announcement with the community. Lucie revealed in a screenshot of an exchange with the developer that a Shiba Inu....
Shiba Inu marketing lead, Lucie has made a cryptic announcement to the SHIB community, indicating that something “special” was set to take place and highlighting the potential for more SHIB token burns. Exciting Surprise Ahead For Shiba Inu In a recent X (formerly Twitter) post, Lucie teased about a major surprise set to commence in […]
One of the most important events in the history of Shiba Inu was when Ethereum founder Vitalik Buterin had sold billions worth of SHIB tokens that were sent to him by the founders of the meme coin. It inevitably was the major catalyst for the price rally of the meme coin that followed not too […]
In a positive turn of events, the Shiba Inu burn rate has seen another notable spike. This time around, the activity, meaning the number of addresses participating in the burns, has seen a notable increase and the burned tokens have risen by over 1,100% in one day. Shiba Inu 1,166% Spike In Burn Rate According […]