Hold your dogs, coz your most valued crypto may be on the rise! Shiba Inu, one of crypto’s favorite dog coins has been in the limelight for quite some time. Currently, the Shiba Inu team was working to create value within the ecosystem. One such activity was the burning of SHIB tokens, thus shrinking the supply, while demand remained intact.
To create this said value, Shiba Inu has joined hands with multiple businesses that have pledged to ‘Burn’ SHIB. One such company was a music streaming site, Bigger Entertainment. Headed by Steven Cooper, the company was burning 80% of all sales from ‘SHIB lovers merch’ and has also made a playlist for the burn. The company had announced burning $100,000 in
A recent update from the company noted,
“We are kicking off the year strong with our Shib Lovers merch campaign running from Jan 14 to Feb 14th. And, the best part is 80% of proceeds from all SHIB Lovers purchases will be used to burn SHIB!”
If you visit the website of the music streaming company, it mentioned that a total of 1.02 billion Shiba Inu coins have been burnt and the price goal for the digital asset was $0.01. According to Cooper, over 47 million SHIB was in the burn pot for the next burn party until now. He added,
“Over 47 Million #shib is in the burn pot for our next burn party already. Plenty of time to build the pot and do our largest burn yet. Everything is burned live during our YouTube broadcast.”
As the team looks forward to their next burn activity for the token, Cooper also noted that “If 1 million people burned 1 million $shib, that’s a trillion right there.” In the meantime, the value of SHIB was slipping in the short term. According to data provided by CoinGecko, Shiba Inu was trending lower by 2% in the past 24-hours and was trading at $0.000000025309.