Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Prominent SHIB burning platform and tracker of burn transactions of the second largest meme token, Shibburn, has shared the three ways it has been using to remove SHIB tokens from the circulating supply and how much of its revenue they spend on these burns.
"3 way to help with SHIB burns"
According to a recent tweet by Shibburn tracker, this platform uses three tools to burn Shiba Inu by sending these meme coins to unspendable wallets.
One is Shibburn Radio, the other is their main project, Shibburn, and the third is Twitter Super Follows.
In the thread, Shibburn explains that Shibburn Radio uses part of its advertising profits to destroy SHIB tokens. The Shibburn website also spends part of its advertising gains on burning Shiba Inu coins.
Currently, we have 3 ways to help with burns. https://t.co/hn4uIaKrmA, @ShibburnRadio, and Twitter Super Follows. Our donations are not based on a specific percentage, we try to donate as much as possible after expenses and taxes. So far it's been 30% to 40% from our revenue.
— Shibburn (@shibburn) October 4, 2022
Shibburn Radio on Amazon app
Shibburn emphasized in the tweet that its donations toward burns are not based on any particular percentage from profits. However, they try to make these donations as big as possible, and usually this is around 30-40%.
Recently, Shibburn Radio became available on all gadgets that are connected to Amazon's Alexa app, which is expected to expand the audience of the radio and increase the amount of burned Shiba Inu coins.
27.8 trillion BabyDoge burned vs. 2.2 million SHIB
The BabyDoge community seems to have gone far ahead of the SHIB army in burning its meme coins. Over the past 24 hours, there have been a staggering 27,817,683,642,556 BabyDoge coins burned.
In the meantime, the SHIB army managed to remove only 2,289,305 coins from circulation, according to Shibburn data. The USD equivalent of these two burns is $39,362 and $25.8.
🔥🔥🔥🔥
— Burn BabyDoge (@babydogeburn_) October 4, 2022
In the past 24 hours, 27,817,683,642,556 (~$39,362) #BABYDOGE tokens have been burned. So far, 198,900,130,063,654,240 #BABYDOGE tokens (47.357%) have been burned from the total supply of 420,000,000,000,000,000. #BabyDogeCoin #BabyDogeArmy @BabyDogeCoin
Godfrey Benjamin
Gamza Khanzadaev
Arman Shirinyan
