A screenshot of a social media post by @RagnarShiba, the moderator of the Telegram group “Shibarium Tech,” was posted by the account @ShibBPP, which is themed on Shiba Inus. It suggests that the SHIB development team could be ready to burn trillions of Shiba Inu meme currencies come January.
The SHIB team used the money from Shibarium transaction fees to burn little more than 36 billion SHIB in December and November. In addition, a significant update is scheduled for this month, which is probably the cause of the previously reported massive SHIB lump that the team could burn.
Trillions of SHIB may be destroyed in January; burn upgrade coming
The $1 million worth of BONE that the team disclosed in late November is probably where the 9.25 trillion Shiba Inus that might possibly be destroyed originate from. The value of the US dollars is equal to 101,522,842,639 SHIB meme coins.
https://x.com/ShibBPP/status/1743488141716074860?s=20
Out of the 101.5 trillion, a little over 36 billion have already been moved in four transactions totaling more than 8.5 billion SHIB to unspendable blockchain addresses.
The $1 million worth of fees will ultimately be converted into Shiba Inu and removed from circulation since Shytoshi Kusama rejected any thoughts for destroying both Shiba Inu and BONE tokens.
In addition, the Shiba Inu team revealed in a blog post at the beginning of December that an automatic SHIB burn era will begin in January. The developers have done all of the SHIB demolition by hand thus far. This appears to be a significant contributing factor in the almost 10 trillion Shiba Inu coins that are anticipated to be destroyed. According to the article, there appears to be hope for SHIB burns in the future.
Along with hinting at the shift in “SHIB burn eras,” the paper also hinted at Puppynet’s (the Shibarium testnet) impending move from Ethereum’s Goerli network to Sepolia.
SHIB burns drop
Based on information from the Shibburn platform, the SHIB army sent 2,469,589 SHIB to unspendable wallets in the previous 24 hours.
Even still, the burn rate is 41.25% lower than it was on Friday, when the same statistic shot up by 2,274%. That day, 5,203,527 meme coins—roughly twice as much SHIB—were burned.
