Shibburn tracker of Shiba Inu coin transfers made to dead wallets posted a tweet, spreading the word about the upcoming launch of its new website. This will be followed by new opportunities for users to collaborate with the Shiba Inu ecosystem and earn SHIB meme coins.
"Other tools to help SHIB burns" for community to use
The recently pinned tweet by Shibburn mentions that its new website will continue tracking burns of Shiba Inu meme coins. However, the team of the project will add many more tools for the SHIB community to help burn this meme coin.
The website is going to roll out an affiliate program and Web3 advertising system — both will allow users to earn SHIB. The tweet also promises that everyone who wishes to will be able to "create custom Shibburn bios to display their links, NFTs (using OpenSea, Blur, integrated Shibburn marketplace), add products, charts, burn data, plus more."
In addition, Shibburn stated that soon the SHIB army will get a chance to win reward tokens for performing various tasks, such as burning, sharing engaging on social media and others. It is worth noting that, according to Shibburn, the SHIB army will not have to spend even a tiny amount of cash to help with SHIB burns.
More updates were promised by the burn tracker's team.
SHIB burn rate shows negative figures
Over the past 24 hours, the SHIB army has transferred a total of 24,535,040 meme coins to unspendable wallets on the Ethereum chain. Still, this is minus 18.87% compared to the SHIB number, which was burned on Thursday, May 25.
The aforementioned amount of SHIB was removed from the circulating supply in three transactions, with 20,178,231 meme coins being the biggest one. It was followed by 3,867,440 SHIB and a tiny 489,369 a few hours later.
Burning coins, i.e., removing them from the circulating supply makes a crypto asset more scarce and hunted for, which can potentially push its price up to a substantial degree.
Burning is practiced not only by SHIB. Other meme and nonmeme coins also do that on a regular basis, such as BabyDoge, BNB and FLOKI — which intends to begin using its coin in its Valhalla game, locking them away from circulation this way. Even Ethereum does it. BabyDoge is known for its monthly burns in which a billion meme coins or sometimes even more get destroyed by the developers using transaction fees. The recently launched beta version of SHIB's Layer 2 protocol Shibarium burns SHIB on the same principle.