In just one month, Shiba Inu has seen an increase in the burning of Shib characters. The crypto whale recorded a burn close to two billion in November 2021. This is a scenario that is following a rise in ShibArmy burn projects.
Analysis of the November Burn Projects
The November trend places the vEmpire DDAO as the largest single investor. The investor burns approximately 3.5 billion SHIB. The billions- burnt translates into a $17 000 worth on 19th November.
The highest contributor in the month is Bigger Entertainment. With a record of 416,981,132 burns, the publishing group raised $ 20000. After the team records the highest tickets sold for Shib’s 16th November burn party, the victory comes.
Even as Shiba mellows, their lowest day also scoops some good losses. On 23rd November, Shib sent only 1,044,300characters into the dead wallet.
Strategies to Growing Shib Burning Movements
The SHIB Burner playlist emerged as one of the most significant projects that supported the
token burn.
The playlist allows inventors to save their Shib by burning Shiba’s tokens instead. All you have to do is listen to one song from the Shiba Inu-activated platform.
Then Kraken followed suit in impacting the significant deaths of Shib. A listing by Kraken is bringing mass effect towards this successful process.
Subsequently, the Shib community has sent 1,912,665,892 SHIBs into the Dead Shib Wallet with the combined effort. A move that aims at establishing rare characters, thus increasing the value of Shiba Inu.
What Does Burning SHIB Mean?
Burning crypto means rendering a crypto token inactive to invest. Every time you burn a Crypto, it is sent to the Death wallet, where investors can not gain access.
In this manner, coins maintain their value since there won’t be conflicting similarities in the assets. Generally, the crypto with the highest number of burns ultimately rises to the ladder of whale companies.
The Shiba Inu has had its spot in the top 10 whales ladders by CoinMarketCap. Subsequently, the meme coin is generating a rare breed of tokens. This way, Shiba Inu maintains its glory status.
However, the crypto coin harbors multiple SHIB. To kill just a quarter of this existing list, the community will need more than 5000 years in the process. The current rates indicate that Shiba Inu may require several centuries to kill all the unnecessary $SHIB.
The Trend to Look Out for in December
In one day, the community has just destroyed another 20,039,895 Shiba Inu. As the records in Shib burn indicate, the burning activities are still gaining strength. Currently, the process is driven by the SHIB Coffee Project.
The project kills one SHIB every time customers buy their branded coffee. The Shiba Coffee Company has been running this burn since its launch at the beginning of the month.
Similarly, we are awaiting the promise of the Buster mobile game. The company says that on 10th December, it will burn 115,784,608 Shiba Inu with a current $5010.