thecryptobasic.com
The team behind Shiba Inu has initiated another Shibarium-powered burn over the weekend.
According to data shared by Shibburn, the Shiba Inu team sent a whopping 8,615,169,427 (8.61 billion) SHIB to the dead wallet in a single transaction.
🔥🔥🔥 8,615,169,427 $SHIB -> transferred to dead wallet. https://t.co/DusNKLxyei
— Shibburn (@shibburn) December 16, 2023
At the time of writing, the 8.61 billion tokens were worth $87,099. Notably, on-chain data shows that the transaction took place on December 16.
SHIB Burns on Shibarium
It bears mentioning that the recent burn is the second major incineration of SHIB tokens powered by Shiba Inu’s Layer-2 scaling solution, Shibarium. Recall that the Shiba Inu team initiated the first-ever Shibarium-powered burn on December 4, 2023.
As reported earlier, the team sent 8.24 billion SHIB tokens, equivalent to $75K+. With Shibarium transactions skyrocketing tremendously in recent times, the team promised to initiate three manual burns on December 14, 15, and 16.
It did not burn SHIB on December 14 and 15 as promised due to unforeseen circumstances. However, the team burned over 8.6B SHIB on December 16.
Shiba Inu Leader Reacts, Says Shibarium Transactions Deserve Toasting
Meanwhile, news of the second Shibarium-powered was first shared by Shiba Inu lead developer Shytoshi Kusama on the X platform.
In a December 16 tweet, Kusama revealed that the team was preparing to “roast” billions of SHIB. He pointed out that Shibarium transactions deserve to be celebrated.
For context, Shibarium has continued to record widespread adoption, as the total transaction count has reached an astounding 132,861,947 (132.86 million) in just four months.
Following the massive spike in Shibarium transactions in recent weeks, the team behind Shiba Inu was able to incinerate billions of SHIB sooner than expected.
Impactful Burns Will Come Through Global Adoption
While the recent burns initiated on Shibarium have been commendable, Kusama speculated that more impactful burns will only come through global adoption.
2/ Impactful burns will only take place through global adoption. We've seen adoption trickle in through 2023, but what can be done to ensure $Shib adoption worldwide perpetually? For this, a web of decentralized leaders, early adopters, and those tired of the status quo…
— Shytoshi Kusama™ (@ShytoshiKusama) December 16, 2023
He suggested that for Shibarium to gain global adoption, there is a need for decentralized leaders and early adopters of SHIB to usher in a new era of crypto, blockchain, and Web 3.0. Furthermore, Kusama reiterated that he will make a major announcement this week.