In an unprecedented movement on March 9, 2024, Shiba Inu's burn initiative has seen a significant escalation with SHIB, BONE, and LEASH tokens being burned continuously.
With major cryptocurrency exchanges and the newly launched SHEboshis NFT collection contributing to the burn, the SHIB ecosystem is on a rapid path to growth, raising intrigue and anticipation within the crypto community.
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SHIB Tokens Worth a Total of 80 ETH Burned
On March 9, 2024, a substantial burn event for Shiba Inu (SHIB) tokens took place, revealing that a series of ecosystem tokens including SHIB, BONE, and LEASH are being continuously burned.
SHIB's marketing leader, LUCIE, posted on X on March 8, stating that "40 ETH had been collected for the SHIB burn," and by the 9th, it was confirmed that "a total of 80 ETH (approximately $340,000) worth of SHIB was burned."
Continuous Burn Reports for BONE and LEASH
The burn activities within the SHIB ecosystem have been persistently reported following LUCIE's announcement. Shortly after, one of the SHIB community's administrators, RagnarShib (@RagnarShiba), reported that burns had been executed for BONE and LEASH as well.
According to RagnarShib's report, the SHIB burn wallet recorded "two SHIB burns," along with "19,551 BONE burned" and "28.76 LEASH burned."
Although it hasn't been disclosed which funds were used for the BONE and LEASH burns, the newly launched NFT collection "SHEboshis" last month stated that 10% of its revenue would be allocated to burning SHIB-related tokens (6% for SHIB, 1% for BONE, 1% for LEASH, 1% for TREAT, and 1% for SHI), suggesting that the recent burns might be related to SHEboshis.
Major Exchanges Contributing to SHIB Burns?
Several globally renowned major cryptocurrency exchanges seem to be contributing to the SHIB burn movement.
Reports as of March 7, 2024, indicate that exchanges such as Crypto.com, Coinbase, Kraken, BINANCE, and Robinhood are participating in daily SHIB burns.
The burn movement for SHIB is being advanced by related SHIB projects as well, leading to expectations that the burn of SHIB-related tokens will further accelerate as the SHIB ecosystem continues to grow.
Real-time information on SHIB burns, such as the total burned amount, total supply, and circulating supply, can be checked on Shibburn.com. As of March 9, 2024, the reports are as follows:
| Amount | |
|---|---|
| Maximum Supply | 999,982,367,670,093 SHIB |
| Total Burned | 410,723,043,207,306 SHIB |
| Total Supply | 589,276,956,792,693 SHIB |
| Circulating Supply | 582,456,810,781,087 SHIB |
>> For more updates related to SHIB, click here.
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