Shiba Inu Burn Rate Skyrockets as SHIB Game Day Approaches

Shiba Inu burn rate rose well over 1900% in the last 24-hour, credit goes to the SHIB game

Shiba Inu is one of the most popular memecoins in the cryptocurrency world. Even while it lags behind DOGE in terms of market capitalization, it is well ahead in terms of development. Earlier this year, the option to burn SHIB was implemented. In last few days Shiba Inu burn rate has been increasing. According to data from Shiba Inu burn tracker Shibburn, Shiba Inu burn rate rose well over 1900% in the last 24-hour. This time, a total of 268,160,328 SHIB has been sent to unspendable wallets and locked there permanently. When the SHIB team announced the Shiba Inu Game in November 2021, it swept holders into a wave of excitement. Now, the SHIB game day is getting close and that is also another reason why SHIB burn rate rises.

SHIB Burn rate rises at the speed of bullet train

In September, the Shiba community burned about $1,743,878,414 SHIB using the SHIB Burn Portal by 382 transactions, and 410,381,404,462,435 SHIB have been burned from its initial supply. According to data from the Shibburn website, Within 24 hours $267 million SHIB has burned and there have been nine burn transactions to dead wallets.

Shibburn: Shiba Inu burn rate tracker

On September 17 in Australia, Shiba Eternity was in circulation for the first time. Then Shiba Inu increased by almost 7% on September 17 and 18. However, recent details on the game's launch may boost excitement. Moreover, there is no significant change in the SHIB price. At the time of writing, Shiba Inu traded at $0.000011 with a 24-hour trading volume of $280,760,792 and SHIB has a market cap of $6 billion, as per CoinMaretCap.

SHIB game day is week away

Much-awaited Shiba Inu game will become available worldwide week from now, according to official announcement. Shiba Eternity, Shiba Inu's collectible card game, will become available for download worldwide starting from October 6, 2022. The game was originally supposed to go live on October 1, but the so-called "Download Day" has now been officially postponed.

The ecosystem's lead developer, Shytoshi Kusama, stated that he would release the game's lore and plans on October 1, 2022. The SHIB team had indicated in a September 23 Twitter space event that Shiba Eternity's download day would be October 1. Despite the change in 'download day,' the community would still hope to push Shiba Eternity to the top ranking of all apps on the app stores, bringing huge exposure to the card game.

Shiba Inu's card game allows users to switch between waging epic card wars and perfecting their deck-building skills. Currently, the game's developers organize an ongoing trailer contest. Contestants are to shoot a 30-second video preview of the app. According to the organizers, the contest's winner will receive $5,000 worth of SHIB tokens.

Meanwhile, recent data from crypto analytics firm, Whalestats, states that Ethereum Whales are still accumulating more SHIB tokens as it remains their favorite token to purchase. Transaction volume on SHIB tokens rose to about $23.50 million on September 28. If the Shiba Eternity's download day's expectations are achieved, SHIB's price could increase further.