Shibarmy News

Massive Shiba Burns Building Momentum For The Shiba Inu Token and The Shib Army

Published

2 years ago

March 28, 2022

(Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. Every investment and all trading involves risk, so you should always do your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.)

The Burns By The Shiba Inu Token Community is starting to have an impact as the price of Shib is starting to once again climb out of weeks of dips and a stagnant trend. Many companies are starting to Burn Shiba, both big and small, and they are adding up.

Over the last week, close to 3 Billion Tokens were burned or sent to dead wallets to take them out of Circulation. ShibBurn reported that in the last 7 days nearly 3 billion were burned over 191 transactions.

In the last 7 days, there have been a total of 2,604,802,620 $SHIB tokens burned and 191 transactions. #shibarmy

— Shibburn (@shibburn) March 27, 2022

The biggest burn came from the new token ShibaBurn which uses a 5% tax collected from users to initiate burns as they had a record-breaking burn of over 1 Billion tokens. Matthew Perry tweeted out “Big thank you to @shibaburnerc20 for making the largest community-led burn in history!!!”

Big thank you to @shibaburnerc20 for making the largest community-led burn in history!!! ???#shiba #SHIBARMY https://t.co/imA0jeEpNk

— Matthew G Perry, CBO? (@Perry8k) March 22, 2022

This number accounts for less than half of the burns for the week however as more companies are initiating burns through transactions. Some smaller businesses are burning between 500K and 10 million at a time which may not seem like a lot but are just as important for the overall volume of the burns. Smaller companies cannot be expected to burn more than they earn but are still a major contributor to the efforts. Right now there are hundreds of companies that are members of the Shiba Army that are startup businesses contributing to burn rates.

Not only that but recent news of NowPayments helping with the burn initiative by allowing companies to take out a percentage of each sale that will go directly to the burn is helping as well.

The utility continues to grow as these companies, even those that are not burning, are accepting Shiba Inu as payments. The big announcement was about the fact that Wellys, John Richmond, and Sorbillo as they are OFFICIAL Shib army partners. These are great efforts and great companies but we cannot just ignore all of the smaller companies that are making efforts as this is a community-driven project.

Another Big Burner of Tokens is Bigger Entertainment as they were one of the first companies that were offering big burns. They now have games besides music that will help with the burn according to Steven Cooper. They are a staple in the Shib Army and followed by many.

Bigger Entertainment @biggerent has 5 mobile games that all burn #SHIB. New games to be added soon. Visit https://t.co/6sidpPUN6C to download each and try them out!

— Steven Cooper (@iamstevencooper) March 25, 2022

We are going to continue to highlight companies that are big and small that are part of the Shib Army. Remember that companies need to make a profit so if they are burning even 9% like John Richmond is they are a valued member of the community. If you know of any businesses that are helping with the Shiba Burn drop us a DM at Twitter.