In a recent Twitter/X announcement, Lucie, the marketing lead for Shiba Inu, addressed the SHIB community, unveiling an opportunity for enthusiasts to earn SHIB and LEASH tokens. Lucie revealed plans to distribute nearly 90 million Shiba Inu and several LEASH tokens in the coming months.
As per Lucie’s tweet, the ShibaPunkz decentralized application (dApp) for staking has undergone updates, leading to significant rewards for stakers. Over the next four months, stakers utilizing the ShibaPunkz dApp will receive 2 LEASH tokens and an impressive 85 million SHIB coins.
Shiba Inu’s ShibaPunkz.art Unveils Diverse NFT Staking Rewards
ShibaPunkz.art is the platform for staking Shiba Inu-themed NFTs from the ShibaPunkz NFT collection, initially launched on the Shibarium blockchain. The official token on this dApp is SPUNK, allowing stakers to earn SPUNK tokens as rewards. Lucie also announced including the Shibarium rewards tokens LEASH and SHIB for users on the platform.
Staking has gained popularity in the cryptocurrency industry to earn passive income, where users lock their cryptocurrencies for a specific period, receiving rewards in return. The latest report from the Shibburn tracker reveals a decline in the SHIB burn rate despite a claimed victory on Friday. In the last 24 hours, the Shiba Inu community burned only 2,465,619 SHIB meme coins, resulting in a 52.62% decrease in the overall burn rate.
Among the five burn transactions, the largest involved the transfer of 1,571,812 SHIB to a non-retrievable blockchain address. The smallest transfer contained less than one SHIB token. Friday’s burn rate surge by 2,274% indicates ongoing dynamics in the Shiba Inu community’s efforts to control the circulating supply of SHIB.
Starting from Wednesday, the second-largest meme-based cryptocurrency, SHIB, has seen a market value decline of over 11%. On that day, a 14% decrease was linked to Bitcoin’s crash triggered by an article from Matrixport predicting the likely SEC rejection of various Bitcoin spot ETF filings. Despite a 10% surge on Friday, SHIB faced a subsequent 6% decline, returning its price to the initial Wednesday level.