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....
The top memecoins Dogecoin and Shiba Inu haven’t been spared in the latest crash in the crypto market as the coins are currently down 16% and 12%, respectively. Dogecoin And Shiba Inu Bleed Amid Wider Crypto Crash The memecoins had been having a rough time for a while now, much like the rest of the […]
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 […]
The Shiba Inu community has been very committed to its SHIB burn since it was implemented. This burn was started to reduce the supply of the cryptocurrency in a bid to increase the value of the coins. Over the months, the burn numbers have been growing. Now, it has gotten to a point where there […]