Shiba Inu Burns Over 305 Million SHIB Tokens, Evolves to Secure Ecosystem
• Shiba Inu’s community has burned 305.77 million SHIB tokens in the last 7 days.
• The Shiba Army is aiming to increase SHIB’s value through a token-burning mechanism.
• Shiba Inu has evolved from a meme coin to a secure decentralized ecosystem, and it is the most traded asset on India’s largest crypto app, CoinSwitch.
Shiba Inu’s Token Burning
The Shiba Inu community has shown a strong commitment to reducing the overall token supply in the ecosystem by burning SHIB tokens. The Shiba Army aims to boost the value of SHIB by triggering a decline in its supply through an aggressive token-burning mechanism. So far, over 305 million SHIB coins have been burned over the past 7 days through multiple transactions.
Evolution of Shiba Inu Ecosystem
Shiba Inu has displayed significant evolution in the industry since its launch as a meme coin. A blockchain security firm Certik recognized Shiba Inu in its latest Project Scoop edition and gave it a high security score of 94.30, placing it among the industry’s top most secure crypto projects. Additionally, it is now the most traded asset on India’s largest crypto app, CoinSwitch.
Largest Burner Of Last Week
An anonymous wallet was identified as the biggest burner of SHIB tokens last week and moved 15.57 million coins into dead wallets as part of their burning operations. This number recorded an increase compared with that of previous weeks which saw about 1 billion SHIB tokens burnt through fifty separate transactions.
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Conclusion
Shiba Inu’s ambitious token-burning operations appear successful so far as both its price and market capitalization continue to rise after reaching all time highs recently despite some suggested risks associated with its high circulating supply and low liquidity levels . As long as this trend continues, we can expect more progress from Shiba Inu’s ecosystem!