Major Exchange Surprises with Listing of Shiba Inu (SHIB) Rival as Burn Rate Skyrockets by Almost 8,000%
The burn rate of Shiba Inu’s token, SHIB, has jumped nearly 8,000%, with 43 million tokens burned in a single day, according to Shibburn. Over 410 trillion SHIB tokens have been taken out of circulation permanently or sent to a dead Ethereum address. The burn was started in 2021 by the Shiba Inu community, inspired by Ethereum creator Vitalik Buterin, who burned 90% of his SHIB stash and gave the rest to charity. Several major listings of tokens in the Shiba Inu ecosystem have taken place recently while a layer-2 scaling project for the Dogecoin rival called Shibarium is awaited. The acceleration in the SHIB burn rate coincides with crypto exchange BTCC’s announcement that it will support SHIB, as well as multi-chain ecosystem Conflux, payments firm Alchemy Pay, blockchain Core, and two small crypto projects.
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