The most popular meme cryptocurrency in the crypto space Shiba Inu (SHIB), SHIB Burn Portal, the official burning portal that provides systematic burning of tokens, reached an important milestone in SHIB token burning, reaching 60 billion SHIB in three months.
The Shiba Inu community is celebrating as they managed to burn a total of 60,059,414,306 (60.05 billion) Shiba Inu over the past three months, worth a total of $748,340 (in fiat price) in thousands of separate transactions.
The Shiba Inu Community is constantly sending millions of Shiba Inu tokens to “inferno” addresses every hour. It is a tracking platform that actively performs SHIB burning and can track the amount of SHIB tokens burned by the Shiba Inu community. shibburn In the latest post by the website, the community reported that a total of 155,353,699 (155.35M) SHIB tokens were burned in three separate transactions in the past hour using the official SHIB Burn Portal.
In the past hour, there have been a total of 155,353,699 $SHIB tokens burned and 3 transactions. #shibarmy
— Shibburn (@shibburn) July 30, 2022
Launched in April, the SHIB Burn Portal was developed in collaboration with Ryoshi Vision in recent months to encourage SHIB burns by rewarding Shiba investors in exchange for burns.
Shiba Inu’s burn rate had increased by nearly 250 percent on July 25, days after the SHIB team recently released updates on the ‘burn portal’. Ryoshi Vision, who previously powered the SHIB ‘burn portal’, apologized for slow burn rates and inconveniences in reward distribution.
In their most recent blog they posted, Ryoshi Vision took full responsibility for the delays and tweeted that they are “actively working towards a speedy response and resolution”.
However, despite all these problems in Burn Portal, the burning rate reached 60 billion milestones.
Shiba Inu team working on SHIB Wikipedia to combat FUDs
In a recent statement, it was reported that the team behind Shiba Inu (SHIB) is working to create the “SHIB Wikipedia” to help eliminate scams, FUD and misinformation about the project. The team is also making progress on Shibarium Documentation and Woofpaper v3.
The Shiba Inu team is working hard to create a “living document” that includes all official and approved SHIB information, as well as community contributors and their projects. Only official team members on the platform will be able to update and expand the document’s information as needed over time, and the documentation will function as the “SHIB Wikipedia”.
It is claimed that the purpose of creating the “SHIB Wikipedia” was to eradicate many of the scams in the crypto space that damage the reputation of the Shiba Inu Ecosystem. According to reports, the documentation will be available to the community soon.
“Shib Trophias”, a member of SHIB Official Defense Team Alpha, confirmed the news, adding that Shibarium Documentation and Woofpaper v3 will be included in the future wiki section.
“I can confirm that a wiki/doc section is in the works. It will look pretty good. Shibarium Documentation and Woofpaper v3 are also part of it.”
Can confirm there is a wiki/doc section in the works. It’s gotta look sleek!
Shibarium Documentation and Woofpaper v3 is also apart of this as well.
— Shib Trophias (@ShibaTrophias) July 29, 2022
With a 24-hour trading volume of $547,746,477 ($547.74 million), the Shiba Inu is trading at $0.00001238, an increase of over 5 percent from the previous day.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.