Shiba Coin Burn Will Make Holders Millions In The Near Future!
Hello my friends! Thank you for being here at my Shiba Coin burn blog post. So there is a behind the scenes strategy that the Shiba Inu developers are working on to make Shiba skyrocket in the very near future. So, what does it mean to burn a token? It is to purposely burn a token out of circulation. A lot of times they can send it to a wallet where no one has access. When you burn a large amount, it can have the effect of increasing the scarcity of that token. This is why burning can be used as a type of controlling the inflation. So make sure to stick around ’till the end because I have some really important Shiba Inu news for you around this topic.
So let’s take a look at Shiba as of August 11, 2021. We’ve seen a lot of meme tokens arising, but Shiba really has out performed it’s rivals. This has to do with the announcement Shiba has done about burning. Investors are on the lookout for it. That’s why we broke over the traditional resistance mark this past week. This would be the 6th millionth of a dollar. Specially in this past weekend we experienced this hinting at a big potential breakout to happen.
Shiba Coin Burn And Developers
Here is what is very important to note also. The Shiba developers have recently removed a large number of the circulating token. This means that the odds of a breakout is higher now. We will most likely be braking the new resistance point of 8 millionths of a dollar. Also, an official close above this range will lead to a 20% upswing. This means that we might possibly see the largest Shiba token burn to date. So what had happened before this is that the Shib team has always been opposed to the idea of a burn.
But they’ve revealed the secret that this mentality is changing now. Also we have now a road map of what will be the 2nd phase of the Shiba token. We know this since Ryoshi just posted about Shiba today. He thinks that Shiba doesn’t need to be in some platforms. This might be more than what we need. He says that we need more utility and also a huge new burn. Different than other tokens, Shiba can’t burn it’s tokens inherently built within the function of the token itself.
Shiba Coin Burn With Ryoshi
The previous burning has been mostly because of the community. And more specifically I’m talking about the Ethereum founder Vitalik. He burned a lot of the Shiba token a few months ago. As you might know, when you burn tokens from the circulation supply, the demand goes up. This will cause the price to go up. So this is huge news in the Shiba community. Ryoshi has a new plan for these burnings to take place in the near future. So an important question is how will we achieve this?
Shiba will create a collection of NFTs. NFT is a sort of virtual collectible that you as the owner have exclusive rights to. So Shiba will be introducing the first NFT set. The best part is that the Shiba team is investigating ways to implement cheap burns into the system to change the attributes of a purchased NFT. So if we go by what Ryoshi was saying, if you send your Shib to a burning wallet you could re-label the attributes of your particular NFT token.
NFTs And The Shiba Burn
This is going to be so interesting because as you might know already, NFT are hotly traded commodities. This means that there is a big potential for investors to burn a lot of money. This will also mean that they will be able to reduce the supply in a large number. This is definitely one of the smartest ways as far of creative ways to burn a token. This is a major move in this amazing phase 2 or the Shiba evolution. We’ve seem the token increasing it’s value and it keeps happening as we speak. Not to mention the super smart move to build their own Shiba Swap making it not your regular meme token any more.
We have the new pools inside the swap that allowed the two first major burns for Shib and Leash at 25K each. When we look at our numbers we can see that Leash has a total supply of 107,646 tokens. The Shib token started with 1 quadrillion. But here is when they gave Vitalik a 50% of the supply. He is Ethereum’s founder. Also here is when he burnt most of it and donated the rest to India. So expect amazing news to be announced because there is definitely so much great stuff to come! HERE are some more awesome Shiba Inu recent news.
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