The Shiba Inu [SHIB] network is undeniably characterized by its strong community-driven approach. Participants from across the globe actively contribute to the development of this meme coin network. One way of doing so is by engaging in burns. Here, a significant number of SHIB tokens are destroyed or transferred to inactive wallets intentionally. This practice is mainly carried out by members of the SHIB community, demonstrating their commitment to the project. Recently, another project has joined this list and astonishingly burnt approximately 8 billion SHIB.
A newly launched project known as Blaze Token [BLZE] has started multiple token burns. The network made an announcement earlier this week, stating that it had successfully burnt a substantial amount of 1,238,951,893 SHIB tokens. As a result of these burns, the total number of SHIB tokens destroyed by the project has reached an impressive milestone of 7,955,814,803 SHIB.
The project’s announcement gained significant attention and piqued the curiosity of the community. Many members enthusiastically engaged with the tweet, rushing to the comment section to express their interest in collaborating with the Blaze Token project. Notably, this interest was not limited to just the Shiba Inu Army community but extended to other communities as well.
It is important to clarify that the Blaze Token project and the Shiba Inu network are different and separate entities. While both projects may have amassed attention and interest from the crypto community, they operate independently and have no direct affiliation or connection.
Shiba Inu’s daily burn rate soars by over 2,000%
The SHIB network seems to be having an eventful week in terms of token burns. The meme coin began the week with a substantial 8,000% surge in the burn rate. As of the latest update, the burn rate has reached an impressive 2,372%, with a staggering 1,240,951,903 SHIB tokens sent to inactive wallets. Furthermore, at press time, SHIB was trading for $0.000008824 with a 0.95% daily surge.