Crypto wallet tracking platform Shibburn has released news about the rise in one of Shiba Inu's key metrics. Overnight, the destruction rate has reached a staggering four figures, with millions of meme coins being destroyed. Just as the SHIB team revealed that a key Web3 upgrade for one of Shibarium's main products is expected to be launched this week.
SHIB Destruction Soars Nearly 7,400% According to Shibburn, the Shiba Inu Army has managed to increase the burn metric by 7,334% after burning a total of 2,376,919 SHIB coins. So far, there have been five destruction transactions, with the largest of which moved 1,000,000 and 897,397 SHIB out of the circulating supply, respectively.
Through token burning, the amount of SHIB in circulation is gradually reduced. However, the second-largest meme-inspired token by market cap has a circulating supply of 583,409,479,610,457 so far, compared to an initial supply of one quadrillion. A total of 410,727,776,917,712 SHIBs have been destroyed so far, most of which were burned by Ethereum co-founder Vitalik Buterin in a massive transfer in May 2021, when the mysterious SHIB creator Ryoshi gifted Buterin half of the Shiba Inu supply. Regardless of the number of tokens destroyed, SHIB burns rarely affect the price of Shiba Inu. This time, the token fell by 3.33% before slightly rising, up 1.21%. At the time of writing, the meme cryptocurrency is changing hands at $0.00001680.
SHIB GAME UPGRADES TO LAND THIS WEEK On Monday, Lucie, the official marketing lead for SHIB, announced on her X account that this week, a new Web3 version of the popular smartphone game Shiba Eternity is expected to be launched on the Shibarium network. The "this week" time she mentioned comes from an angel developer on the Shiba Games team. In order to gain access to the new version of the game, players will need to stake LEASH tokens. "It provides players with an exclusive opportunity to enter the game and aligns them with the ShibArmy elite," said Lucie. After the game launches, users will need to hold at least one Shiboshi, Sheboshi, or Shiba Eternity Lore non-fungible token to access the game.
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