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SHIBA army is constantly making Shiba Inu come to the forefront of the highly volatile cryptocurrency market in recent times. The cryptocurrency that just started as a memecoin, transformed itself into a profitable cryptocurrency for millions of crypto investors. There are some ups and downs for Shiba Inu to be near the top ten cryptocurrencies on the global list. Still, there are more journeys to cover to be consistent in crypto wallets and drive profit for a long period of time. Thus, SHIBA army took the responsibility of implementing Shiba Inu burning mechanism to create more demand and less supply to increase the price of the token. This may attract profit as well as more crypto investors towards the cryptocurrency, becoming a tough competitor to other cryptocurrencies in the nearby future. Let's explore deep into how Shiba Inu burning mechanism is the newest strategy to earn more money in crypto wallets.
SHIBA army is focused on increasing the cryptocurrency price for crypto investors to yield profit in the long term. Shiba Inu was losing its charm as a memecoin and a cryptocurrency because the price remains constant at a low level. Meanwhile, other new emerging cryptocurrencies as well as existing ones are increasing their prices to gain more crypto investors. Thus, SHIBA army implemented the Shiba Inu burning mechanism to raise the price to reach US$1 in the nearby future.
Shiba Inu burning mechanism is burning millions of tokens with three special addresses such as tokens to the Genesis address and two dead wallets. Crypto investors and SHIBA army expect that this Shiba Inu burning mechanism will help to increase the demand while reducing the supply of this cryptocurrency. This, in turn, will raise the price of the token to drive sufficient profit in crypto wallets across the world. This can also provide sufficient stability to the status of the cryptocurrency in the highly volatile cryptocurrency market.
Shiba Inu burning mechanism will keep the price a hedge against the drastic decline in the value of the US dollar. Thus, SHIBA army wants to take this ultimate burning strategy to reduce the possibilities of price reduction in the nearby future. This will create a huge impact on the highly volatile cryptocurrency market. Crypto investors must wait for the ultimate outcome of the burning strategy in the nearby future to raise the cryptocurrency price. They have already burnt around US$25,000 SHIB through 260 billion Shiba Inu tokens to reach US$0.00002445 with an increase of 5.22% and a market cap of US$13.45 billion. The total supply is one quadrillion with a circulating supply of 549,146,987,315,505.4. Meanwhile, 410,328,990,023,453 Shiba Inu tokens are total burned
It will take a long period of time for SHIBA army to make the price reach US$1 with the launch of the official Shibaswap burn portal. This new portal is focused on providing a Web3 wallet to crypto investors to burn Shiba Inu tokens and earn money with passive income rewards for effective participation. It is reported that there was an increase by 347.35% of this Shiba Inu burning mechanism.
This ShibaBurn portal will send the tokens to a remote crypto wallet address with the unsaved details. Crypto investors or SHIBA army cannot retrieve the data in the nearby future. The portal is determined to motivate crypto investors to burn the cryptocurrency to make a supply scarcity in the cryptocurrency market. Thus, the demand will increase and the price will automatically increase to drive profit in crypto wallets.
Shiba Inu has officially announced the schedule of the Shiba Inu burning mechanism. SHIBA army must be aware of the new changes but this is for the new crypto investors in the cryptocurrency market.
March 31, 2021- 25% burned
June 30, 2021- another 25% burned
September 30, 2022- remaining 50% will be burned
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