March has proven to be the record month and milestone for the Shiba Inu (SHIB). This month saw the unveiling of SHIB: The Metaverse up to massive SHIB token burning. According to Shibburn, more than 6 billion Shiba Inu coins were burned in just 430 transactions in March. The ShibArmy has managed to overlap the highest token burning record.
March breaks the fire record
According to burn tracker data, some 1.48 billion SHIBs were sent to a dead wallet in February. Meanwhile, March registered a whopping 400% jump from last month’s burn rate by sending 6,050,996,291 SHIBs to the dead wallet.
The highest Shiba Inu token burn transaction was recorded on March 22. A single transaction deleted more than 1 billion SHIBs. This encouraged the community to burn more tokens as more than 460 million Shiba Inu were later sent to the dead wallet in 11 separate transactions. Meanwhile, more than 95 million SHIBs have been burned in the past 24 hours.
Recently, Shiba Inu has teamed up with NOWPayments, which presents the optional combustion for traders. It is a feature provided by the platforms to contribute to the Shiba Inu ecosystem that allows users to burn SHIB and LEASH profits.
At the start of SHIB’s journey, half of its total supply of 50 trillion tokens was sent to Ethereum (ETH) founder Vitalik Buterin. According to a report, Vitalik burned nearly 90% of the received Shiba Inu token, which was worth about $6 billion. However, he later donated $1 billion in SHIBs to the Covid-19 relief fund in India.
SHIB launches locking system for Metaverse
SHIB launched its own Metaverse, which skyrocketed the price of the meme coins. Now the team has announced that the LEASH and SHIBOSHIS locking system is enabled. The users can gain early access to land sales. However, the map will be revealed in the coming days.
The coin has registered an increase of 6.26% in the past 24 hours. SHIB is trading at an average price of $0.000027 at press time. The 24-hour trading volume of the $1,104,454,535 token has fallen. According to CoinMarketCap, SHIB is still the second largest meme cryptocurrency with a market cap of about $15 billion.
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About the author
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analyses. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]
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