Shiba Inu Team Announces Plans for a Special SHIB Burn Event

Lucie, the dynamic marketing specialist of the Shiba Inu ecosystem, has announced an exciting development that could lead to significant reductions in SHIB tokens.
The marketing lead disclosed her collaboration with Shibacals, a blockchain project focused on verifying physical collectibles.
While details of the partnership remain undisclosed, Lucie has hinted at imminent SHIB burns and urged the community to prepare.
Community Response
The announcement has sparked enthusiastic reactions within the Shiba Inu community. Members eagerly anticipate whether this initiative will result in the incineration of millions or even trillions of SHIB tokens.
Additionally, many community members are looking forward to the upcoming SHIB burns.
Further Reductions in Supply
The impending burns aim to further diminish Shiba Inu’s extensive supply, currently standing at 589.27 trillion tokens. This reduction could potentially enhance the value of the remaining tokens.
The Shiba Inu ecosystem team actively participates in these burns, utilizing Shibarium gas fees. Their most recent Shibarium-powered burn, executed in March, eliminated 13.4 billion SHIB across two transactions, bringing the total to 56 billion SHIB.
While Shibarium-powered burns are temporarily paused due to low transaction volumes and ongoing burn portal development, community-driven efforts continue to remove SHIB from circulation.
In June alone, the community burnt 918.07 million tokens, with July starting positively as an anonymous user sent over 290 million SHIB to a dormant wallet.
Sharp Decline in Burn Rate
Currently, the burn rate of SHIB has plummeted by 99.93% over the last 24 hours, with only 203,721 SHIB being incinerated.
With Lucie and Shibacals actively preparing for SHIB burns, it is anticipated that more tokens will soon be permanently removed from circulation.
Market Performance
At present, SHIB is trading at $0.00001711, indicating a slight decline of 0.59% in the last 24 hours. The token’s trading volume has also decreased by 7.59% to $167.13 million.
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