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HomeCryptocurrencyShiba Inu Rate Burn Surges 1502% with 132.77 Million SHIB Destroyed in...

Shiba Inu Rate Burn Surges 1502% with 132.77 Million SHIB Destroyed in 24 Hours

Shiba Inu (SHIB), the dog-themed token which has been in the news for its token burn campaigns, just set a new burn rate peak.

According to the data from Shibburn, about 132.77 million SHIB tokens were destroyed in the last 24 hours, while the burn rate of the digital token has increased by around 1502% over the last day.

Shiba Inu Rate Burn Surges 1502% with 132.77 Million SHIB Destroyed in 24 Hours

A significant amount of 126,735,223 (126.73M) SHIB tokens was burned by 1Cent, a SHIB Burn Project started by Shiba Inu holders, in a significant transaction that took place roughly 12 hours ago.

Shiba Inu gets most of the tokens delivered to its burning wallet from individual whale accounts. Since the beginning of this month, this blazing campaign has substantially gained momentum. In the first week, more than 500 million tokens were taken out of circulation. The burn rate might approach 5000% in a few days if it continues to increase at this rate.

Shiba Eternity

The SHIB team announced the debut of the first trading card game for the Shiba Inu community in Australia on September 19. Shiba Eternity’s trial version will be available on the Google Play Store and Apple’s App Store. Collaboration between PlaySide Studios, a Melbourne-based video game studio, and Shiba Eternity is also underway.

On Sept 17, Shytoshi Kusama, the principal developer of the SHIB project, announced that the game would soon be made available worldwide. The game’s fascinating aspects and what players may anticipate from Shiba Eternity’s global release were further discussed by Kusama.

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According to Kusama, the game will support several ongoing burn projects for the local cryptocurrency SHIB and feature a burn mechanism.

William Volk, a Shiba Eternity consultant, revealed the game at Gamescom, the biggest video game trade event in the world, last month. The Shiba Inu team introduced the year 2022 by declaring the existence of their virtual world known as “SHIB: The Metaverse.” The SHIB team has recently announced the development of Shibarium, a native layer 2 scaling solution to get around Ethereum’s high gas prices, in addition to the metaverse.


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Oluwademilade Afolabi
Oluwademilade Afolabi
Oluwademilade is a freelance writer focused on cryptocurrency and blockchain technology. He has experience in content writing and digital journalism. Since 2019, he has contributed to several online websites, and several prominent media outlets and professionals in crypto have acknowledged his writing. Besides writing, Oluwademilade likes to read, play the bass guitar, and travel.
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