The destruction rate of the Shiba Inu (SHIB) cryptocurrency has suddenly increased significantly. According to Shibburn, a platform that tracks SHIB metrics, the destruction rate of SHIB has recently surged by more than 7,000%, with millions of SHIB tokens being destroyed.
This event coincided with the SHIB team announcing the upcoming launch of a major Web3 upgrade for its main product, Shibarium, which is expected to be released this week.
As the team prepares to launch a major update, the destruction rate of Shiba Inu (SHIB) has surged by 7,334%. Shibburn said that a total of 2,376,919 SHIB coins were destroyed in five transactions overnight, with the two largest destructions being 1,000,000 and 897,397 SHIB coins.
Despite these efforts, the circulation of SHIB is still very large, currently 583,409,479,610,457, out of an initial supply of one quadrillion. To date, 410,727,776,917,712 SHIBs have been destroyed, including a large-scale destruction planned by Ethereum co-founder Vitalik Buterin in May 2021 and half of the supply donated by SHIB’s mysterious founder Ryoshi.
Despite the destruction of a large amount of SHIB, the impact on the price of SHIB has been minimal. Recently, despite the destruction of a large amount of SHIB, the value of the token fell by 3.33%, and later recovered slightly to 1.21%. As of now, SHIB is trading at $0.00001680.
Shiba Eternity’s new Web3 version will be launched on the Shibarium network this week. On Monday, SHIB’s official marketing director announced that Shiba Eternity’s new Web3 version will be launched on the Shibarium network this week. Shiba Games developer Angel confirmed the release date.
To access the new version, players will need to stake LEASH tokens, which will provide exclusive entry and allow them to align with the ShibArmy elite. In addition, users will need to hold at least one Shiboshi, Sheboshi, or Shiba Eternity Lore non-fungible token to gain access to the game once it goes live.
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