Shiba Inu burn portal rewards now available to be given out
According to recent updates provided on the ShibaSwap The Twitter DEX Handle, the long-awaited Shiba Inu Engraving Portal Rewards, or the Ryoshi Vision Rewards could be given out in the next 48-72 hours starting June 26th. The ShibaSwap DEX team promises to provide another update when the rewards and completions are released.
In late April, the Shiba Inu burn portal was created in collaboration with the creators of RYOSHIS VISION, an ERC20 token attempting to expand the Shiba Ecosystem. The Shiba Inu team explains its essence: the burn portal was built to reward SHIB burners with a passive income acknowledgment in the form of RYOSHI Rewards. In addition, 0.49% of all RYOSHI transactions will be distributed to owners of burntSHIB.
It also launched a Shiba Burn Smart Contract that projects could use to create a “BURN Pool” and offer rewards for burning SHIB tokens.
As reported by U.Today, a staggering eight billion tokens were torched within 24 hours after the SHIB burn portal launched as SHIB owners flocked to burn their tokens in large numbers. More SHIB tokens have been burned now that it has been almost two months since the initial burn.
Recent reports as of June 19 indicate that more than 55 billion SHIB tokens were burned. By sending SHIB tokens to a burn address, users can permanently remove them from the circulating supply. By doing this, it is possible to increase the rarity of the token somewhat, which could increase the price of the token.
Shiba Inu is up 52% for the week
On June 21, Shiba Inu (SHIB) sharply rose more than 45% to become one of the biggest gainers on the crypto market. At the time of publication, Shiba Inu was trading up nearly 5% at $0.0000117, having remained up 52% since the past week.
Additionally, SHIB ranks in the top 10 by trading volume among 500 largest ETH whales over the past 24 hours as accumulation continues. Currently, the top 2,000 ETH whales hold $672,830,327 worth of SHIB. The number of Shiba Inu owners rose to 1,189,608 according to WhaleStats, showing growth in June.
