The Shiba Inu community, famously vocal and passionate, has a new mantra ringing through its ranks, “Burn, baby, burn!” But unlike a catchy pop song, this fire isn’t about destruction, it’s about building. The burning torch in question is fueled by SHIB, the beloved canine coin, and the flames are stoked on Shibarium, its Layer 2 blockchain.
Remember December 4th? That’s when Shibarium unleashed its inaugural burn, a fiery 8.24 billion SHIB sent to the crypto graveyard, much to the community’s delight. Gas fees surged, a good sign of Shibarium’s growing traffic, but some howled for more. The team heeded the call, promising three manual burns, only to manage one on December 16th.
No Shiba Inu Magic: Spend to Ignite the Burn
Shiba Inu’s Discord admin, DaVinci, emerged as the fire marshall, clearing the smoke with some crucial truths. While the team can’t magically conjure SHIB for burning, the community holds the key. Every burn needs fuel, and that fuel comes from dollars spent on gas fees and transactions within Shibarium.
“By using Shibarium,” DaVinci roared, “more builders will come, and we will keep the burns going!” He warned against scammers who demand free fire, urging folks to join the dance on Shibarium’s stage. Remember, the true gain is shared, not stolen.
But the flames need air – demand for SHIB itself. Marketing lead Lucie echoed this sentiment, reminding everyone that burning alone won’t ignite a price surge. A roaring demand for SHIB is the oxygen that fans the flames higher.
So far, the Shiba Inu team has tossed over 16.85 billion SHIB onto the pyre, a respectable $175,914 worth. And Shibarium itself is stockpiling fuel, accruing over $1.1 million worth of BONE tokens through its transactions. These BONE can be converted into more SHIB for future infernos.
As of now, SHIB dances slightly above the $0.00001 mark, a 3.7% victory lap from the past 24 hours. Whether the flames climb higher depends on two things: the community’s unwavering fuel supply and a growing fire of demand for the beloved Shiba Inu itself. So, grab your lighter, Shibarmy, and let’s keep the burn alive!