Recent data on the burning of Shiba Inu (SHIB) coins shows a sharp increase, and the project team highlights reasons for confidence in the BONE token.
SHIB Token Burning
According to data from Shibburn, the burn rate of SHIB tokens has increased by 4461%. During the last period, 3,166,534 coins were burned. Most of that amount, specifically 3,062,046 SHIB, was transferred to a dead-end wallet. Over the past week, a total of 627,973,941 SHIB has been burned, marking a 364.72% increase in the burn rate, due to nearly 600,000,000 SHIB being transferred to the same non-spendable address.
Reasons for Confidence in BONE
The Shiba Inu team published five reasons why they believe in the potential of the BONE token. The first reason is its real utility on the Shibarium blockchain, where it serves as the gas token for all transactions, dApp, and NFT mints. The second reason is its governance role, allowing BONE holders to participate in voting on proposals related to the future of the SHIB ecosystem. The third reason is the capped supply of BONE tokens — 250 million, which makes it deflationary. The fourth reason is BONE's deep integration within the SHIB ecosystem, including use on ShibaSwap and in future dApps. The last reason is the strong community support alongside the clear roadmap outlined by the SHIB team.
Conclusion
The significant increase in burn rate of SHIB tokens and the confidence expressed by the team in BONE highlight the positive trends within the Shiba Inu ecosystem, which might significantly impact its further development in the cryptocurrency market.
The soaring burn rates and team confidence in BONE underline the active progress of the project and its potential in the cryptocurrency market.
