News - Substantial amount of SHIB burned

By Mike Hesp

Substantial amount of SHIB burned

According to data from Shibburn, a remarkable 716,485,403 tokens were burned on August 13, as part of 97 transactions. The cause? The impending introduction of the Shibarium mainnet.

With the Shibarium launch on the horizon, several projects have decided to burn SHIB tokens, resulting in a decrease in the overall supply available. One notable token burn took place thanks to a partnership with hardware wallet Tangem, which is recognized as the crypto wallet for the Shiba Inu ecosystem. As a result, as many as 344 million tokens were burned.

Positive outlook surrounding Blockchain Futurist Conference

At the upcoming Blockchain Futurist Conference in Toronto, Shytoshi Kusama, the lead developer, will elaborate on the upcoming Shibarium launch. In addition, he will discuss the various related projects, highlight the all-encompassing Shiba Inu ecosystem and present the latest developments regarding Doggy DAO.

De announcement of Shibarium has led to good performance by SHIB. Last month in particular, Shiba Inu did well. On a monthly basis, the Shiba Inu price rose by more than 18%.

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