The official marketing manager of the Shiba Inu team, known under the pseudonym Lucie, has addressed the SHIB community with a new tweet about Shiba Inu token burns.
Lucie shared a link to a platform that will now allow its users to burn SHIB coins.
“Come support burns on Shibarium”
In her X post, Lucie invited SHIB holders to come and support Shiba Inu burns on Shibarium. Lucie published a link to a platform called zora.co, using her personal affiliate link, it seems. That platform, Zora.co, is a crypto platform with a social media functions, has recently expanded its BASE (the Ethereum layer-2 solution created by Coinbase) community.
Therefore, Lucie’s tweet is entitled “Invitation to BASE fam!” Lucie’s tweet suggests that SHIB users can help to gradually burn out the circulating Shiba Inu supply “little by little” through this BASE-linked platform.
“If you’re holding real SHIB, come support burns on Shibarium,” she tweeted.
Burns on Shibarium are conducted thanks to transaction fees paid in BONE tokens; therefore, the more transfers are made on it, whether separately or as part of dapps built and run on Shibarium, the more SHIB coins will be sent to unspendable wallets, i.e., burned. Part of the BONE fees are set aside to be later converted into Shiba Inu coins and then destroyed.
As reported by U.Today, the SHIB development team rolled out a major upgrade earlier this week, which has radically transformed the SHIB burn system on Shibarium. From now on, SHIB coins will be burned from every activity on the network: “Swaps, liquidity actions, and other uses now trigger live burns automatically.” The announcement added that after the upgrade, “burns happen on-chain, in real time.”
1,254,539,419 SHIB gets burned in the past week
According to a recent post published by the “Shibarium Updates” X account, during the past seven days, a total of 1,254,539,419 SHIB meme coins has been burned out of the circulating supply.
The post highlights four recent burn transactions made on Shibarium via the SHIB burn portal: 21.79 million SHIB, 15.06 million SHIB, 14.57 million SHIB, and 15.87 million Shiba Inu coins. All four transfers were made between June 2 and June 5.
Over the past 24 hours, the SHIB burn rate has collapsed by 64.83%, with only 90,439 SHIB destroyed, according to the Shibburn tracker.
