During the weekend, the folks behind Shiba Inu did something called a Shibarium-powered burn. They sent a really big amount, 8.61 billion SHIB, to a place called the dead wallet in just one go. This info comes from Shibburn.
As of now, those 8.61 billion tokens were valued at $87,099. It’s interesting to note that this transaction happened on December 16, according to the information available on the blockchain.
🔥🔥🔥 8,615,169,427 $SHIB -> transferred to dead wallet. https://t.co/DusNKLxyei
— Shibburn (@shibburn) December 16, 2023
Shiba Inu’s Second Shibarium-Powered Burn
It’s worth noting that the recent burning of SHIB tokens marks the second significant incineration facilitated by Shiba Inu’s Layer-2 scaling solution, Shibarium. The Shiba Inu team had initiated the inaugural Shibarium-powered burn on December 4, 2023, where they sent 8.24 billion SHIB tokens, valued at over $75,000.
As previously reported, the team had pledged to carry out three manual burns on December 14, 15, and 16, fueled by the surging transactions on Shibarium. However, unforeseen circumstances led to the team not executing the burns on December 14 and 15 as promised. Nevertheless, on December 16, the team followed through by burning over 8.6 billion SHIB tokens.
Shibarium’s Second Burn Celebration
The announcement of the second Shibarium-powered burn came directly from Shytoshi Kusama, the lead developer of Shiba Inu, who shared the news on the X platform. On December 16, Kusama took to Twitter, disclosing the team’s preparations to “roast” billions of SHIB. He emphasized the significance of celebrating Shibarium transactions.
For context, Shibarium has been experiencing widespread adoption, evident in its impressive total transaction count of 132.86 million in just four months.
The remarkable surge in Shibarium transactions in recent weeks enabled the Shiba Inu team to carry out the incineration of billions of SHIB earlier than originally anticipated.
Shibarium Burns and Future Global Adoption
Acknowledging the recent noteworthy burns facilitated by Shibarium, Shytoshi Kusama, the lead developer, expressed his belief that more impactful burns would only be achieved through global adoption. According to Kusama, achieving widespread adoption for Shibarium requires decentralized leaders and early adopters of SHIB to pave the way for a new era in crypto, blockchain, and Web 3.0.
1/ As Billions of Shib prepare for roasting🔥 (yes, it is in progress), and Shibarium transactions are worthy of toasting 🥂… I continue to look forward to next week's announcement. Let's talk about it (continued)
— Shytoshi Kusama™ (@ShytoshiKusama) December 16, 2023
Furthermore, Kusama teased a major announcement scheduled for this week, hinting at potential developments that could further shape the future trajectory of Shiba Inu and its associated technologies.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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