This action is scheduled to use the gas fees generated on Shibarium, the Shiba Inu blockchain.
— Shib Spain 𝕏 (@ShibSpain) December 14, 2023
At this point, expectations are focused on the potential to surpass the million dollar mark on this highly anticipated burn.
With the cumulative total of Shibarium gas rates currently standing at $1,076,140 the community is abuzz with anticipation.
It wouldn’t be the first time a gas fee-driven SHIB burn has taken place at Shibarium
In a previous burn, the Shiba Inu team incinerated more than $70,000 worth of SHIB tokens in a single transaction, thus showing the ability of significantly reduce the supply of tokens.
The Shiba Inu development team has outlined specific dates, December 14 to 16, for this new burning.
These dates have generated great expectations among members of the community, who are eagerly awaiting this event after the previous success.
Shiba Inu team leader Shytoshi Kusama confirmed the team’s intention to exclusively use Shibarium gas fees to burn SHIB tokens.
Despite a previous suggestion to use accumulated funds to burn both SHIB and BONE tokens, Kusama rejected the idea and clarified that the funds will only go towards burning SHIB.
The precedent of a past burn, on December 4, resulted in the annihilation of 8.2 billion SHIB tokens in a single transaction, valued at more than $70,000 at the time.
This preview event has generated increased anticipation around the upcoming burn and fuels the community’s hopes to witness a significant reduction in the supply of SHIB tokens.
With the expectant community and eyes on the Shiba Inu development team, the crypto world waits to witness how this new burning of SHIB tokens powered by Shibarium in general market can influence the Shiba Inu ecosystem and the