Shytoshi States That ”Massive Shiba Inu Burns Require Community Efforts”

Vignesh Karunanidhi
Shytoshi States That ”Massive Shiba Inu Burns Require Community Efforts”

A true community effort is the key to enormous Shiba Inu burns, states Shytoshi Kusama, a lead developer of SHIB. The tweet from Shytoshi Kusama was a response to a user asking Shytoshi to pump up the burn game.

Shytoshi stated that massive buns will require a true community effort from the Shib army. He also added that the team is working on different levels to make this dream come true. Even though it is a lengthy process, he hopes to make it work on time.

Shiba Inu’s burn rate has dropped in the last 24 hours

To keep the burning numbers high and burn a considerable number of Shiba Inu is not an easy task, considering the total supply of 1 quadrillion. According to the data from Shibburn, a total of 410,373,776,183,669 SHIB has been burned to date.

Considering the burning numbers, April and May were the best months for SHIB, as 6 billion and 31 billion were respectively burned in the two months. However, there was a decrease in the burn rate in June, which could be attributed to the bear market and the drop in crypto prices.

In the last 24 hours, the burn rate has reduced by 89.41% with only 81,318,405 SHIB burned from the circulation. But, with the combined efforts of the Shiba Inu community, the burning process can be boosted.

In other news, SHIB topped among the top 5,000 ETH whales as the most used smart contract in the last 24 hours.

SHIB is also ranking as number one among the top 100 ETH whales as the most held coin. SHIB currently makes up 23.07% of the whale holdings, worth over $548,105,389. SHIB is followed by USDC and BEST. Shiba Inu is currently trading at $0.00001131 with a 24 hours gain of 3.74%