Wolf AI, an artificial intelligence (AI) video creation firm, has said it will take part in burning trillions of Shiba Inu (SHIB) tokens yearly. According to an official tweet, the team will burn 2% fees on every transaction made in the project’s native token, $WOLF. Furthermore, the team has also said they will use 15% of their revenue to burn Shiba Inu (SHIB) tokens. The presale for the project is launching today, as per the tweet.
As per their website, Wolf AI is a firm that helps businesses create AI-generated videos. Their “technology is designed to take your content and turn it into a professional, engaging video in minutes.“
The SHIB community seems to be ecstatic about the announcement. Burning SHIB’s supply in large numbers is one way the community plans to push the asset’s price higher going forward. However, due to the large circulating supply, burns have often not led to much price action. Nonetheless, if Wolf AI can deliver on its word and burn trillions of Shiba Inu (SHIB) tokens each year, it may positively impact the token’s price.
Moreover, this is not the first firm to show support for Shiba Inu (SHIB). Many companies have come out recently, calling themselves allies of the popular canine-themed crypto project. Moreover, many of them have promised to participate in SHIB burns.
Shiba Inu’s BONE sees massive support in India, Shibarium’s magic?
An Indian crypto exchange recently held a poll on its Twitter page. The poll asked the exchange’s followers which token they would like to see listed next. The options included BONE, FLOKI, and PEPE. Although the vote is still open for another four hours, 10,710 people have cast their vote so far. A whopping 84.1% of the people voted for Shiba Inu’s BONE token. This means that over 8000 people voted for BONE. While PEPE received only 7.3% of the votes and FLOKI received 6.2%. Meanwhile, 2.3% of the people voted for “Others.”
It is possible that with Shibarium rumored to be launching soon, the hype around BONE is going up. BONE is set to be the governance token for the upcoming layer-2 network, and will play a central role in its workings. At press time, SHIB was trading at $0.00000891, down by 0.3% in the last 24 hours. On the other hand, BONE was trading at $0.813766, up by 2% in the last 24 hours.