Marketing Manager Shiba Inu, Lucie made a cryptic announcement to the SHIB community, indicating that something “special” was about to happen and highlighting the potential for more SHIB token burns.
Exciting surprise for Shiba Inu
In a recent X (formerly Twitter) afterLucie teased with a big surprise that was in the Shiba Inu Ecosystem. While she left out significant details about this special event, Lucie did reveal that she worked closely with Shibacals Collaboration Studio to make the exciting surprise happen.
Shibacals is a studio that produces and supplies quality merchandise and authenticates collectibles for global Web3 companies. Given the studio’s services, it is possible that Lucie’s special news involves using Shibacals merchandise to token burns.
In her message, Lucie also urged Members of the Shiba Inu community to prepare for a major SHIB burn. While she didn’t explain exactly how the Shiba Inu team plans to Burning SHIB tokens In collaboration with Shibacals, a large-scale burn will significantly reduce the significant supply of Shiba Inu tokens.
A token burn is a process performed to permanently remove a specific number of tokens from circulation. This is usually accomplished by sending tokens to a unique address called a burn address or a dead walletToken burns are often performed to significantly reduce the supply of a cryptocurrency, creating scarcity and potentially causing a increase in its value.
Despite the withholding of information about the upcoming surprise, many members of the Shiba Inu community took the marketing lead teasers in stride. A few members have requested about the amount of SHIB tokens the marketing team plans to burn. Others have shown their enthusiasm for the approaching fire, indicating that they are ready for it.
SHIB Burn Momentum Continues in July
Lucie’s hint at an approaching SHIB fire is great news for the community and is expected to contribute to the large number of tokens burned in July. Reports from Shibburn, a Shiba Inu token burn tracker, have revealed that unidentified users have burned a staggering 290,434,205 SHIB. Shibburn revealed that the tokens were sent to a dead wallet and executed in a single transaction.
The cumulative SHIB Burn Rate has increased by 8,596.57%, Push the total number of SHIB tokens burned from the initial supply to over 410.7 trillion SHIB. Shiba Inu’s maximum total supply is about 999 trillion tokens, but now the circulating supply has dropped to about 589.2 trillion.
In June, over 918 million SHIB were traded, which is worth approximately $15,901 at the current exchange rate. burnt over 237 transactions. This momentum has flowed in in Julyas Shibburn is still recording multiple daily token burns.
Main image created with Dall.E, chart from Tradingview.com