{"id":253107,"date":"2022-08-21T22:00:30","date_gmt":"2022-08-21T16:30:30","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=253107"},"modified":"2022-08-22T17:30:07","modified_gmt":"2022-08-22T12:00:07","slug":"new-burning-protocol-sees-shibs-burn-rate-surge-by-1000","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/new-burning-protocol-sees-shibs-burn-rate-surge-by-1000\/","title":{"rendered":"New burning protocol sees SHIB&#8217;s burn rate surge by >1000%"},"content":{"rendered":"<p>Shiba Inu, as a community, has seen many, different events transpire since its inception. Most of these developments have been aimed at aiding SHIB&#8217;s price above the $1-mark. However, these developments haven&#8217;t been as successful as one would have expected. Nonetheless, the ecosystem continues to prosper&#8230;<\/p>\n<h4><strong>New day, New you?\u00a0<\/strong><\/h4>\n<p>SHIB&#8217;s performance remains dependent on the coin\u2019s burn rate wherein tokens are transferred to non-spendable wallets. Thereby, shorting the supply while the demand continues to hike ie. In a bid to reduce the token\u2019s supply, which could lead to higher prices in the future as it becomes more scarce.<\/p>\n<p>Travis Johnson, developer of <a href=\"https:\/\/twitter.com\/shib_superstore\">SHIB burn games<\/a> for smartphones, has now <a href=\"https:\/\/twitter.com\/shib_superstore\/status\/1560680203651018752?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1560680203651018752%7Ctwgr%5Ed05d820aa03b4895b892f2d1b8c1207a4178b353%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2Fnew-shib-burn-portal-detected-while-105-million-shib-gets-removed\">released<\/a> a new website (ShIB Superstore portal) that burns Shiba Inu. In a tweet, Johnson <a href=\"https:\/\/twitter.com\/shib_superstore\/status\/1560680203651018752?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1560680203651018752%7Ctwgr%5Ed05d820aa03b4895b892f2d1b8c1207a4178b353%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2Fnew-shib-burn-portal-detected-while-105-million-shib-gets-removed\">stated,<\/a><\/p>\n<blockquote><p>&#8220;<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Some of you have noticed the <a href=\"https:\/\/playzone.online\">website<\/a><\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> listed on SHIB Superstore<\/span>. <span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">This website DOES burn SHIB, but I do not want it to take away focus from the burning games. Playzone earns only through website visits, the games pay royalties to their creators.&#8221;<\/span><\/p><\/blockquote>\n<p>SHIB Superstore, as reported by <a href=\"https:\/\/www.gfinityesports.com\/\" target=\"_blank\" rel=\"nofollow noreferrer noopener\">Gfinity Esports<\/a>, contributed to the destruction of over 2 billion SHIB tokens.\u00a0In addition, Shiba Inu <a href=\"https:\/\/twitter.com\/shib_superstore\/status\/1559928059356119043?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1559928059356119043%7Ctwgr%5Efc01c514ab2b8be364314598d9305eb38a3ab88d%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2F15-million-shib-burned-via-amazon-in-august-details\">partnered<\/a> alongside Amazon, one of the globe\u2019s biggest and best eCommerce platforms.<\/p>\n<p>Following the same, Johnson tweeted that in August, he managed to burn 14,804,845 SHIB via an<a href=\"https:\/\/twitter.com\/shib_superstore\/status\/1559928059356119043?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1559928059356119043%7Ctwgr%5Efc01c514ab2b8be364314598d9305eb38a3ab88d%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2F15-million-shib-burned-via-amazon-in-august-details\"> affiliate program<\/a> with Amazon.<\/p>\n<h4><strong>Night changes<\/strong><\/h4>\n<p>The aforementioned development on the network saw Shiba Inu&#8217;s burn rate surge by 1167%, as per data from token burn tracking portal Shibburn on Friday. At press time, the burn rate had registered a fresh 26% uptick.<\/p>\n<figure id=\"attachment_253130\" aria-describedby=\"caption-attachment-253130\" style=\"width: 692px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screen-Shot-2022-08-21-at-3.30.53-PM.png\"><img decoding=\"async\" class=\"wp-image-253130 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screen-Shot-2022-08-21-at-3.30.53-PM.png\" alt=\"\" width=\"692\" height=\"611\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screen-Shot-2022-08-21-at-3.30.53-PM.png 692w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screen-Shot-2022-08-21-at-3.30.53-PM-300x265.png 300w\" sizes=\"(max-width: 692px) 100vw, 692px\" \/><\/a><figcaption id=\"caption-attachment-253130\" class=\"wp-caption-text\">Source: Shibburn<\/figcaption><\/figure>\n<p>Meanwhile, the Shibburn Twitter account reported that over the last 24 hours, the SHIB army <a href=\"https:\/\/twitter.com\/shibburn\/status\/1560839054891139072?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1560839054891139072%7Ctwgr%5Ed05d820aa03b4895b892f2d1b8c1207a4178b353%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2Fnew-shib-burn-portal-detected-while-105-million-shib-gets-removed\">managed<\/a> to send a total of 105,165,658 Shiba tokens to non-spendable wallets to be permanently locked. On the other hand, dominant buyers a.k.a whales acquired more of the tokens here.<\/p>\n<p>In fact, as per Whalestats, SHIB made a re-entry into the top-10 list <span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">among the 500 biggest <\/span><span class=\"r-18u37iz\">ETH<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> whales over the last 24 hours.\u00a0<\/span><\/p>\n<p>https:\/\/twitter.com\/WhaleStats\/status\/1561080823322918913<\/p>\n<p>This surely brought some relief within the damaged network as <a href=\"http:\/\/ambcrypto.com\/category\/ethereum-news\/\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a> whales were <a href=\"http:\/\/ambcrypto.com\/will-history-repeat-itself-for-shiba-inu-long-term-holders\/\">dumping<\/a> their SHIB holdings previously.<\/p>\n<p>Having said that, SHIB&#8217;s price, despite such significant support, projected a bearish picture. At the time of writing, SHIB was recording a fresh 2% correction as it slid back towards the $0.00001-level.<\/p>\n<figure id=\"attachment_253143\" aria-describedby=\"caption-attachment-253143\" style=\"width: 1920px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/chart-4.jpeg\"><img decoding=\"async\" class=\"wp-image-253143 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/chart-4.jpeg\" alt=\"\" width=\"1920\" height=\"900\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/chart-4.jpeg 1920w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/chart-4-300x141.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/chart-4-1024x480.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/chart-4-768x360.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/chart-4-1536x720.jpeg 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption id=\"caption-attachment-253143\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/coinstats.app\/coins\/shiba-inu\/\" target=\"_blank\" rel=\"noopener\">Coinstats<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu, as a community, has seen many, different events transpire since its inception. Most of these developments have been aimed at aiding SHIB&#8217;s price above the $1-mark. However, these developments haven&#8217;t been as successful as one would have expected. Nonetheless, the ecosystem continues to prosper&#8230; New day, New you?\u00a0 SHIB&#8217;s performance remains dependent on<a href=\"https:\/\/ambcrypto.com\/new-burning-protocol-sees-shibs-burn-rate-surge-by-1000\/\">Continue reading <span class=\"sr-only\">&#8220;New burning protocol sees SHIB&#8217;s burn rate surge by >1000%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":68,"featured_media":253136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-253107","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New burning protocol sees SHIB&#039;s burn rate surge by &gt;1000% - AMBCrypto<\/title>\n<meta name=\"description\" content=\"SHIB&#039;s performance remains dependent on the coin\u2019s burn rate wherein tokens are transferred to non-spendable wallets. 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