Saturday, November 26, 2022
HomeCrypto NewsMarketShiba Inu Community Wants Instant 90% Token Burn But "It’s Not Possible”

Shiba Inu Community Wants Instant 90% Token Burn But “It’s Not Possible”

- Advertisement -
Follow-Us-On-Google-News

Shiba Inu (SHIB) Community is getting impatient and wants 90% of the circulating supply to be burned instantly but “this isn’t going to happen”.



Shiba Inu Community wants to become rich overnight, and they are slowly becoming “fed-up” of the slow burns.

Taking notice of the community feedback, Shib Informer a well respected Shibarmy member with 488K  followers, recently updated a tweet saying that this isn’t going to happen soon as all tokens are in the markets (holders & exchanges). He further noted in his tweet that the only way to burn Shiba Inu tokens is “community-led burn initiatives” which are already in process.

He also added that if someone claims to burn the Shiba Inu token, the community should have to ask them for proof.

Shib Informer also has pinned one of the tweets on his Twitter profile explaining that the steady burn is healthy for the Shiba Inu ecosystem as “these burns are giving a particular ‘utility’ to SHIB that will make sense; when the all is in place.”

Besides this, Shiba Inu Community has been able to burn a total of 917,202,013 (917M) SHIB tokens within last week with 71 transactions in place.

Bigger Entertainment and Bricks Buster, the game available to play on the Google Play Store were among the leading burners last week as they both have arranged burn parties on February 14th and 15th, respectively. Bigger Entertainment has reportedly burnt 240 million SHIB tokens. At the same time, the pseudonymous developer of Brick Buster’s game reported that he had burnt 415 million Shiba Inu (SHIB) tokens in his scheduled burn party on 15th February 2022.

Both individual parties have taken out 655 million SHIB tokens in total from circulation forever this week.

- Advertisement -
Zabi
Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.