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Shiba Inu Leader Celebrates as Shibarium Burns 8 Billion SHIB

The Shiba Inu team celebrated with leader as it executed a substantial Shibarium-powered burn, incinerating 8.61 billion SHIB tokens worth $87,099.

Key Takeaways

  • Shiba Inu executes a Shibarium-powered burn, incinerating 8.61 billion SHIB tokens valued at $87,099.
  • This burn is the second significant event, following a similar burn on December 4, 2023, initiated through Shiba Inu’s Layer-2 scaling solution, Shibarium.
  • Despite delays in earlier burn promises, the team fulfills its commitment by burning over 8.6 billion SHIB on December 16.
  • Shiba Inu lead developer, Shytoshi Kusama, expresses enthusiasm for Shibarium transactions, emphasizing their celebratory nature. He hints at a major announcement in the coming week, underscoring the need for global adoption for more impactful burns.

Shiba Inu Executes Substantial Shibarium-Powered Burn

Over the weekend, the Shibarium team carried out a significant Shiba Inu-powered burn, sending a staggering 8.61 billion SHIB tokens to the dead wallet in a single transaction. This move, reported by Shibburn, amounted to $87,099 in token value as of the latest assessment, with the transaction recorded on December 16.

This recent event marks the second major incineration of SHIB tokens facilitated by Shiba Inu‘s Layer-2 scaling solution, Shibarium. The initial Shibarium-powered burn occurred on December 4, 2023, wherein the team burned 8.24 billion SHIB tokens, equivalent to over $75,000.

Despite delays in executing burn promises on December 14 and 15, the team followed through on December 16, burning over 8.6 billion SHIB tokens. The delays were attributed to unforeseen circumstances, but the successful burn reaffirms the team’s commitment to the Shibarium-powered burning mechanism.

Shytoshi Kusama Celebrates Shibarium Transactions

Shytoshi Kusama, the lead developer of Shiba Inu, took to the X platform on December 16 to announce the impending “roasting” of billions of SHIB tokens. He expressed the belief that Shibarium transactions deserve to be celebrated, underlining the growing importance of this Layer-2 scaling solution.

Shibarium has witnessed a remarkable surge in transactions, reaching a total count of 132.86 million within just four months. Kusama attributed the accelerated burns to Shibarium’s widespread adoption, hinting at the realization of more impactful burns through global adoption.

To Conclude

Despite delays in previous burn promises, the team successfully burned over 8.6 billion SHIB on December 16. Shiba Inu’s lead developer, Shytoshi Kusama, celebrated the event, highlighting the significance of Shibarium transactions.

With Shibarium witnessing widespread adoption and a total transaction count of 132.86 million in four months, Kusama emphasized that impactful burns will be realized through global adoption.