This platform keeps burning Shiba Inu via Amazon on daily basis, while SHIB has turned 2 years old
The Twitter account @shib_superstore, which represents a SHIB burn platform founded by Travis Johnson’s gaming shop, has reminded the SHIB military that its experiment to burn meme tokens through Amazon has proven successful on a daily basis.
However, the SHIB burn rate overall does not look good for the token’s price so far.
Amazon Is “Solid Daily Burner”
@shib_superstore has been burning Shiba Inu through Amazon Affiliate Program for a few months now. Earlier today, Travis Johnson tweeted that the event on the e-commerce giant has proven to be “a solid daily burner” for SHIB, allowing it to remove 4,212,299 Mem tokens from 426,621 per day in circulation.
However, these cost $5 and $50 in fiat. Thus, the maximum amount of SHIB that can be destroyed via Amazon per month is 122,306,201 ($1,500), along with the other sources of burning SHIB that this platform uses – YouTube and mobile phone games.
According to an earlier tweet, on August 2, the platform managed to burn a total of 2,588,178 Shiba Inu worth $32.
According to another popular Shib burn initiative, over the past 24 hours, 60,319,152 tokens have been burned, with the burn rate of SHIB dropping by 61.2%.
Overall, only 0.0002% of the SHIB supply in circulation was burned in the past week (1.13 billion tokens worth $13,500), as covered by U.Today. This burn rate is hardly enough to cause the coin’s price to skyrocket in the near future.
Shiba Inu turns 2 years old
The official Twitter account of SHIB on Twitter, @Shibtoken, announced on Aug. 2 that it had been two years since the launch of the canine coin.
It was created in 2020 by anonymous founder Ryoshi and according to the tweet, it has grown into one of the largest and most dedicated crypto communities on the market.
Over that time, the coin’s price has grown 14,740,620.8%, rising from the all-time low of $0.000000000082 on Sept. 1 two years ago to the current exchange rate of $0.00001204 per token, thus eliminating six zeros.
According to CoinMarketCap, in October last year, the coin reached a historical peak of $0.00008845 and is currently trading 86.39% below it.
As for SHIB creator Ryoshi, on May 30, he erased all of his notes on social media, choosing to disappear and thus copycatting the fate of Satoshi Nakamoto – the mysterious creator of Bitcoin.