Exciting Development in Record-Reaching Meme Coin: Burns Will Increase

Exciting Development in Record-Reaching Meme Coin: Burns Will Increase
  • The team behind the world’s second largest cryptocurrency has revealed some details about the upcoming P2E game that will get the community excited. shared. The popular meme coin also set a new record in the number of holders.

Shiba Inu (SHIB) After the Play-to-Earn (P2E) game was released in Australia, the team behind the project shared more details about the game, keeping the community up to date with the latest developments.

In an announcement on the official Shiba Inu channel by SHIB’s lead developer, Shytoshi Kusama, the team said, Shiba Eternity It plans to repay the support they receive from the SHIB community, both financially and morally, through various projects, including

Exciting Development in Record-Reaching Meme Coin: Burns Will Increase

SHIB burning

Planning to reward the community for their efforts through Shiba Eternity, the team allocates 5 percent of all profits from the game to local cryptocurrency. SHIB burning will be used for.

The Hearthstone game, which the developer uses as an example in his description, is estimated to generate over $414 million in revenue every year.

Notably, the community always plays a crucial role in facilitating the burning of more Shiba Inu tokens. According to Kusama, the community must download Shiba Eternity in large numbers before the team can push the game to the top of the app store rankings. It is anticipated that this will attract players outside the SHIB ecosystem to download the game.

β€œJust by downloading the game, with your help, we will be able to move the game to the top of the app stores and hopefully generate more revenue from players outside the SHIB community,” commented Kusama.

More SHIB burning call to the community

Members of the Shiba Inu community are making significant contributions to the burning program, with billions of SHIB tokens permanently burned from circulation.

Despite billions of SHIBs being destroyed as a result of the community’s burning events, SHIBArmy members continued to call on meme coin’s own team to join the ongoing burning program.

Kusama by the community SHIB burning He noted that after the big call for the platform, these moves of the platform became mandatory. Shytoshi stated in a Discord post shared by a user using the alias Gossip Shib, “Sometimes, I get messages like BRO burn all SHIB supply”, stating that he is aware of the community’s wishes and these messages push him to take action on this issue.

But as a result of the discussions, SHIB admitted that burning and raising the price of the cryptocurrency as a result of the burns would cost the team billions of dollars. Based on this, the team decided to constantly burn SHIB, using 5 percent of every profit made through the game.

β€œ[Daha fazla SHIB] We need to implement a plan as you can see to burn it. It’s ironic that we’re working on it, [ancak] Burning billions of dollars is no easy task. Trust me.”

SHIB holder count hits new record with 100,000 increase in September

The number of Shiba Inu owners rose 100,000 in September, reaching an all-time high.

According to data from the CryptEye portal, the number of Shiba Inu (SHIB) holders increased in the past month at a different rate than has been observed in previous months to follow. However, the strongest increase in the number of wallets was recorded in the last two weeks, starting September 10.

Thus, if the increase in the number of wallets with SHIB in the last three months was 190,000, their number increased by 80,000 in just the last two weeks of September alone. If we look at the tables given in the source, there was an almost one and a half times increase in the growth rate of SHIB holders in the last two weeks of September.

It is quite possible that the increase in the number of SHIB holders, which is generally on an uptrend and breaking records with each passing day, is due to the latest news about the Shiba Eternity game, which is gaining popularity in Asia.

Shiba Inu (SHIB) price action in September

SHIB priceAs for the matter, things don’t look very bright here. In September, the cryptocurrency lost 23 percent from highs of $0.000014 and is currently trading at $0.00001 and risks adding another zero in price. As long as the price level at $0.0000095 on the chart is not broken, there is a chance for the SHIB quotes to stay on the surface and offset some of the decline.

Still, it doesn’t seem like a good idea to buy the Shiba Inu in the current circumstances. Probably the best solution would be to wait and watch the response at the key support level mentioned above.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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