Friday, September 30, 2022
HomeCryptocurrencyAmazon’s Impact Boosts Shiba Inu (SHIB) Burn Rate By 888%

Amazon’s Impact Boosts Shiba Inu (SHIB) Burn Rate By 888%

Despite the fact that the crypto market has not printed a significant price surge in recent weeks, the Shiba Inu community continues to see reasons to burn more SHIB tokens. And the contribution of the Amazon burner also hit a significant level over the last 24 hours.

Amazon Burner Destroys 3 Billion SHIB Tokens

According to Travis Johnson, the game developer behind @shib_superstore Twitter handle, over the weekend, a total of 50,704,939 SHIB tokens worth $666 were burned via his Amazon affiliate program launched in October 2021.

Read Also: Anon Whale Shifted 3.37 Trillion SHIB Tokens as Shiba Inu Typical Hold Time on Coinbase Grows

As reported by Johnson, this has now brought the total number of SHIB burned at the portal to 1.1 billion tokens and all-time SHIB destroyed via the Amazon burner to about 2.9B SHIB.

This shows that Amazon considerably contributed to the massive increase in the number of tokens burned over the last 24 hours.

Travis Johnson tweeted, “Burn! 50.7M SHIB ($666) Bringing the total we have burned at the portal to 1.1B and all time to nearly 2.9B SHIB!”

Read Also: Vitalik Buterin Shares Second Update about Balvi, Acknowledges Shiba Inu (SHIB) Community Support

Shiba Inu (SHIB) Burn Rate Surges Nearly 889% Thanks To Amazon

According to Shibburn, the platform that tracks all SHIB tokens sent to inferno wallets, the total burn rate of the dog-themed crypto has gained nearly 889% within the last 24 hours.

<
Amazon’s Impact Boosts Shiba Inu (SHIB) Burn Rate By 888%
Source: Shibburn

This resulted from a higher amount of SHIB burned since Sunday morning (64,986,148 SHIB). A total of 50,704,939 were burned in a single transaction thanks to Amazon burner. Whereas, only 8,369,636 tokens were burned on Saturday, representing an 8x burn increase on Sunday.

It should be noted that only 272.2 million SHIB were sent to the dead wallets in September, which can be tagged as a poor performance compared to previous months.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
RELATED ARTICLES

Latest News & Articles

Recent Comments