Big Shiba Inu themed X account @ShibBPP, a message that triggered an enthusiastic response from the SHIB community published. The message states that there are more than one million USD of BONE tokens ready to be exchanged for SHIB and burned.
“Who pushes the button?” the tweet read. is asked. There are 1,396,569 BONEs in Shibarium that have accumulated transaction fees. This crypto sum is worth $1,028,306. However, there is a small detail here that does not allow the team to burn all those BONEs after converting them into SHIB. While the SHIB community debates this potentially surprising SHIB cremation, the actual cremation rate has increased marginally, with only 2.8 million Shiba Inu transferred to unusable addresses.
Over 1 million dollars worth of $SHIB is ready to be burned 🔥🔥
Who is pushing the button 🚨 pic.twitter.com/UwsfcCoKIP
NEWS CONTINUES BELOW— $SHIB BPP (@ShibBPP) December 12, 2023
Here’s the Deal Regarding SHIB Burns in Shibarium
ShibariumTransaction costs in are covered by Bone ShibaSwap (BONE) tokens. The majority of these fees are set aside. Part of this amount will help support Shibarium’s work, and part will be converted into SHIB and sent to blockchain wallets, which cannot then be spent.
1,396,569 mentioned above BONNET It may not have been reserved yet to be burned and left to the dev team. Therefore, the community has yet to see mind-boggling Shiba Inu holdings cremated. As for recent burns, the SHIB community has disposed of a total of 2,886,049 SHIBs in the last 24 hours, according to the Shibburn wallet tracker. This increased the overall burn rate by 49.04%. Of this amount, 1,918,173 SHIBs were destroyed in a single move.
Recently, the layer-2 blockchain Shibarium has been setting new records, especially with the total number of transactions rising. It surpassed its five million peak last week. This week, readings for that metric jumped above 50 and then to 66 million. It’s now fast approaching 98 million total transactions. Daily transfer peaks on Shibarium are also very high, according to Shibariumscan explorer. The number of connected wallets increased to 1,307,305.