The crypto world comes with never-ending surprises. The latest surprise is a massive partnership between popular meme coin SHIB, shopping giant Amazon, and Twitter’s new owner, Elon Musk. It should be noted that there is no official statement about the partnership. Here are the details…
Big claim for Shiba Inu (SHIB)
A Twitter account that provided updates on SHIB (@ShibaInuNews) was the first to share the update. The partnership will initiate new development steps for the Shiba Inu ecosystem. Meanwhile, the latest incident is still a developing story as no further information about the partnership has been disclosed. In addition, negotiations on the possible launch of the new agreement continue between the parties. Therefore, ShibaInuNews stated that if all goes as planned, it will provide updates on development by December 1st.
In a report published on May 27, it was stated that the token-burning SHIB Super Store has been integrated into the Amazon Affiliate Program. Accordingly, the Shiba Inu store will use 1 to 20 percent of its profits to purchase the SHIB, which users can burn every Sunday. Then the total number of tokens burned was 2 million Shiba Inu. Before the platform achieves such a feat, SHIB Super Store invests a portion of its profits from advertising games and the sale of SHIB-branded products.
Call to Elon Musk
On the other hand, the Shibburn Twitter account, which tracks all SHIB burn activity, called on Elon Musk to address the content theft on Twitter. According to the tracking platform, the move is necessary to prevent others from making money in the new Twitter model that the Tesla owner is trying to create. Interestingly, the request came after Musk announced that the creators would soon earn higher compensation. The platform is working on a way to make this happen. However, Shibburn is concerned about the high level of stolen content on Twitter.
For example, hundreds of organizations continue to steal reports on ShibBurn’s activities and make them appear as their own. SHIBBurn believes it’s time for Twitter to stop monetizing stolen content. The meme coin burn rate has managed to increase the price of the asset and reduce its supply. However, the entire crypto market is in the red. Therefore, there is no momentum that a constant rate of combustion can generate.
However, the constant burning of SHIB has attracted the biggest Ethereum whales to the coin. A WhaleStats recent update shows that the top 2000 Ethereum whales have amassed approximately $70.39 million worth of SHIB tokens. At the time of this writing, the Shiba Inu was among the top 2,000 holdings of the largest ETH whales. Next comes UNI and MKR. If the partnership between SHIB and Amazon is successful, it will have huge ramifications for the meme coin.
Using SHIB in WEF
On the other hand, cryptocoin.com As we have announced, Shiba Inu (SHIB) can take part in the World Economic Forum (WEF). Shiba Inu’s developer, Shytoshi Kusama, pointed out that WEF officials contacted him.
Exchanges have Shiba Inu in their proof of reserve
Finally, a new tab for centralized exchanges’ proof of reserve (PoR) has been opened on CoinMarketCap. At this point, it did not go unnoticed that the exchanges had a large amount of Shiba Inu. According to the information, Binance holds 56.9 trillion SHIB. This represents more than 10 percent of the total Shiba Inu token supply.
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