Shiba Inu BonFire: 40 ETH Ready To Burn

Shiba Inu’s prominent member and marketing specialist, Lucie, indicated that there will be a burning event for SHIB tokens, where a certain amount of SHIB tokens will be intentionally destroyed or taken out of circulation. As per the X post, a total of 40 Ethereum [ETH] has been gathered for the token burn. This collected ETH might be used to purchase and subsequently burn SHIB tokens, reducing the overall supply. Lucie urged followers and community members to keep an eye out for further updates or details regarding this burning event.

SHIB burns incoming! 40 ETH was collected for the burn. Stay tuned!

In Jan, the popular meme coin unleashed a fiery inferno of token burns, sending its incinerator on overdrive. Within just 24 hours, SHIB’s burn rate skyrocketed a staggering 1,628%, according to Shibburn data. This translates to a whopping 88 million tokens banished to the digital void for eternity, significantly reducing the circulating supply.

This sudden shift marks a stark contrast to the week’s initial sluggish burn rate, raising eyebrows and igniting speculation about Shiba Inu’s future trajectory. After weathering its share of bearish storms, the project appears determined to beat the odds through this aggressive incineration strategy.

Shiba Inu’s Ryoshi Team Massive Social Media Campaign

Meanwhile, the Shiba Inu army’s unwavering strength, the “Proof of Woof,” a points-based airdrop campaign in X, concluded. Aiming to push Ryoshi’s vision forward, the Shiba Inu-based project has recently initiated a massive social media initiative to spread the word about Ryoshi across various social platforms.

To demonstrate Proof of Woof, users were urged to create content using mediums such as long-format writing, graphics and artwork, video content, or real-life actions. Selected entries will then be graded, awarded points, and translated into airdrop tokens, TronWeekly reported the other day.

So far, the team has received over 4,000 entries and is in the process of reviewing, grading, and allocating rewards for entries based on their quality and contribution. Members of the SHIB team lauded the success of the “Proof of Woof” campaign, proclaiming its power of community and dedication toward pushing Ryoshi’s vision forward.