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It's a good time to be a Shiba Inu investor in July 2022.
Shiba Inu might be cute – but it packed some real bite in the last week of July to flip TRON and seriously threaten Avalanche's market cap ranking.
The Shiba Inu burn rate exploded on July 26 as more than 174 million SHIB were destroyed within 24 hours.
So what put Shiba Inu on the attack this week?
A series of Shiba Inu news updates and announcements have got Ethereum whales holding more SHIB than ever before, while the total number of holders pushes 1.2 million.
Let's dive in and check out the Shiba Inu news.
On July 25, the Shiba Inu burn rate tracker Shibburn announced something never seen before.
Soon, a Visa card will be launched to allow Shiba Inu holders to make day-to-day payments with SHIB.
Crucially, using the card will contribute to burning Shiba Inu tokens.
The Shiba Inu Visa card brought some much-needed positivity to Shiba Inu after the ShibaSwap burn portal – created in April 2022 in partnership with Ryoshis Vision – has been disappointed with its promised APY. Anyone who burns SHIB through the burn portal can expect to receive RYOSHI tokens at a fixed APY.
The Shiba Inu lead development team acknowledged that rewards were 'under-performing' but that this was the remit of Ryoshis Vision.
The new SHIB Visa will improve the Shiba Inu burn rate without any ties to the Ryoshis Vision team.
EverGrow has caused a sensation in the crypto industry this year.
A 2% burn tax on the hyper-deflationary token has seen 53% of the initial $EGC coin supply removed from circulation since launching in September last year. EverGrow is burning its way into the crypto top 20 as a small cap cryptocurrency ($90 million) with huge potential for Shiba Inu-style gains.
Except that this time it's the big Shiba Inu taking inspiration from the smaller EverGrow.
First, investors in the fallen Luna Classic (LUNC) token voted to implement a 1.2% burn tax and reduce supply – and now Shiba Inu investors are cranking the burn rate up following news of the SHIB Burn Visa card.
The Shiba Inu burn rate exploded to over 174 million SHIB according to shibburn.com.
The Shiba Inu burn rate is currently 41.04% of the initial SHIB token supply.
Yes, you read that right.
There's now a solution to help bosses pay their employees in pure Shiba Inu.
The NOWPayments cryptocurrency gateway announced the addition of Shiba Inu to its Mass Payments tool designed specifically for companies.
"Businesses that have SHIB investors among their employees can offer them an opportunity to get paid in SHIB," a blogpost from nowpayments.io read.
The crypto gateway explains that all you'd need is your employees' SHIB crypto address and the salary is paid before you can say ruff ruff!
For your employer or for you to get involved, all you need to do is create a NOWPayments account, fill in the survey for mass payout requests, activate your request, deposit Shiba Inu into your account, and add your crypto address, and hit Proceed.
Oh – you can also burn Shiba Inu with NOWPayments' feature for merchants.
Things are hotting up in the metaverse space.
The EverGrow token we talked about earlier is also on a metaverse quest with the first ever cloud-streamed VR gaming arcade to hit the market – The Abstract. EverGrow will be the de facto native token with a wide range of play-to-earn use cases as well as its own virtual crypto exchange.
Shiba Inu is hot on its heels with its own SHIB: The Metaverse.
Shiba Inu news broke this week that Los Angeles studio The Third Floor is now on board to build out world-class visualisations for the design and construction of the Shiba Inu metaverse.
The Third Floor has worked on major Hollywood films including the Marvel Cinematic Universe and Star Wars as well as commercial advertising and video games.
"The Metaverse is offering everyone new opportunities to develop and participate in world-building and the visual universe and we are thrilled to collaborate with Shiba Inu teams as they innovate within this expanding landscape," a blogpost from The Third Floor Chief Strategy Officer Dane Smith said.
The list of films where The Third Floor had a hand includes Dune, Avatar, Gravity, Avengers: Endgame, series like The Mandalorian, and video games like Tekken 6 and
We all know that Vitalik Buterin helped the meteoric rise of Shiba Inu by burning 41% of its total supply in May last year.
The major burn triggered a tidal wave of Shiba Inu investment and took the token to its first major all-time high and spot in the crypto top 20.
Fewer people know how Buterin gave a significant lump of Shiba Inu to the India Covid Crypto Relief Fund .
And even fewer recall that he used some more Shiba Inu to fund a PhD program researching the safe development and deployment of AI.
In July, Buterin thanked Shiba Inu for helping to send the first class of Vitalik Buterin Fellows onto their AI PhDs.
"Big thanks to the Shiba Inu community, whose cryptocurrency made these fellowships possible," Buterin wrote on Twitter in response to a Tweet naming the fellowship grant winners.
Had Buterin cashed out on the Shiba Inu stash he received last year, he could easily have become one of the richest men in the world (he had access to $15.8 billion). Instead, he laid the foundation for what Shiba Inu would become.
His recognition has reignited the faith and good-will of the Shiba Inu community as SHIB reached its highest price since the crypto crash in early June. On July 20, the price of Shiba Inu rose to $0.000013 – up from a macro low of $0.0000074 on June 19th.
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