Shibburn wallet tracker’s data indicates that during the last day, 0 SHIB meme coins have been delivered to inactive wallets, and the second-largest cryptocurrency on the market in terms of market value has seen a 100% decrease in its burn rate.
Zero SHIB burned after three billion SHIB gone
Shibburn alleged that 3,616,412,304 SHIB were sent to be trapped in dead-end wallets and then set ablaze on May 30. 6,601,495,249 Shiba Inu, or the majority of that sum, were burnt in a single transaction by what appeared to be a passionate anonymous cryptocurrency whale.
However, information from Crypto Twitter, which identified the creator of this significant record-breaking transaction, provided some light on this. Blaze Token, a fresh cryptocurrency venture, was involved. This transaction, which burnt many billion (or at least more than one billion) SHIB in a single transfer, is the fourth from this project to occur this month.
A number of factors, including the fact that most participants are not burning their own SHIB and that most are burning other people’s money or a portion of the petrol costs charged by the Shibarium beta, which has been operating since March 11 under the name Puppynet, might account for the 100% reduction in SHIB burns.
The Shibarium documentation that the development team made available to the community states that 70% of the basic fee (all fees are paid in BONE tokens) is set aside to be converted into SHIB as soon as the number of BONE tokens saved in the contract surpasses 10 BONE tokens.
SHIB-themed business closes down
SHIB head Shytoshi Kusama recently revealed in a Discord message that he has been quiet since there are many projects underway and the Shibarium beta is now operating with new upgrades expected. Even Nevertheless, despite development in the SHIB ecosystem, the current situation for companies focused on SHIB is not favourable.
Shiba Coffee Company has announced its permanent closure on its official Twitter account. The company formerly offered coffee in SHIB-themed packaging, took SHIB as payment, and even burnt Shiba Inu coins.
The tweet claims that after operating at a deficit for more than a year, it is time to “finally pull the plug.”