This platform will allow the Shiba Inu community to earn SHIB, obtain SHIB rewards and introduce Shiba Inu to potential new users.
Tracker Shibburn of Shiba Inu coin transfers made to dead wallets posted a tweet, spreading the word about the upcoming launch of their new website. This will be followed by new opportunities for users to collaborate with the Shiba Inu ecosystem and earn SHIB coins.
“Other tools to help SHIB burns” for use by the community
Shibburn’s recently pinned tweet mentions that his new website will continue to track Shiba Inu coin burns. However, the project team will be adding many more tools to the SHIB community to help burn this meme piece.
The website will roll out an affiliate program and a Web3 advertising system – both will allow users to earn SHIB. The tweet also promises that anyone who wishes will be able to “create custom Shibburn bios to display their links, NFTs (using OpenSea, Blur, the built-in Shibburn Marketplace), add products, charts, burn data, and more. Again”.
Additionally, Shibburn said that soon the SHIB army will have a chance to earn reward tokens for performing various tasks, such as burning, sharing on social media, and others. It’s worth noting that according to Shibburn, the SHIB army won’t have to spend even a tiny amount of money to help with SHIB burns.
More updates have been promised by the burn tracker team.
Our new site will be launched next month. Burn tracking will always be a feature, but we have many other tools that will help you with burns that you can use. You can win $SHIB using our affiliate program and future Web3 advertising system.
Everyone can… pic.twitter.com/uMvX5nB3cU
— Shibburn (@shibburn) May 26, 2023
SHIB burn rate shows negative numbers
In the past 24 hours, the SHIB army transferred a total of 24,535,040 meme coins to essential wallets on the Ethereum chain. Still, that’s down 18.87% from the SHIB number, which was burned on Thursday, May 25.
The aforementioned amount of SHIB was withdrawn from circulating supply in three transactions, with 20,178,231 meme coins being the largest. It was followed by 3,867,440 SHIB and a tiny 489,369 a few hours later.
Burning coins, i.e. removing them from circulating supply, makes a crypto asset more rare and sought after, which can potentially drive up its price to a substantial extent.
Burning is not practiced only by the SHIB. Other meme and non-meme coins also do this regularly, such as BabyDoge, BNB, and FLOKI – who intends to start using their coin in their Valhalla game, thus shutting them out of circulation. Even Ethereum does. BabyDoge is known for its monthly burns in which a billion or sometimes even more meme pieces are destroyed by the developers using transaction fees. The recently launched beta version of the SHIB Shibarium layer 2 protocol serious SHIB on the same principle.