By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CoinworldstoryCoinworldstoryCoinworldstory
  • HOME
  • CRYPTO
    • AI
    • BOTS
    • ICO
    • AIRDROP
      • Featured Airdrops
    • Price Prediction
    • EXCHANGE
      • Best Centralized Exchange List 2025
      • Best Decentralized Exchange List 2025
    • ALTCOIN
    • Alt Coin Signal
    • Crypto Analysis
    • Bitcoin Loan
    • Bitcoin Mining
    • WALLETPRO
  • PR
    PR
    If You Looking For Submit Cryptocurrency Press Releases Than Coinworldstory Is Best Choice For Crypto Press Release Submission
    Show More
    Top News
    Alive Casino ICO will offer entertainment 3.0
    Alive Casino ICO will offer entertainment 3.0
    2 years ago
    Disrupting The Worlds Biggest Investment Market
    Disrupting The Worlds Biggest Investment Market
    4 years ago
    BENQI and Avalanche Launch $3M Liquidity Mining Initiative to Accelerate DeFi Growth
    2 years ago
    Latest News
    BTCC Exchange Announces Triple Global Workforce Expansion at TOKEN2049 Singapore to Power Web3 Evolution
    6 hours ago
    1inch rebrands to reflect broader mission uniting DeFi and global finance
    8 hours ago
    The Sandbox CEO Robby Yung Unveils Vision with New AI, Web3, and Mobile Initiatives
    17 hours ago
    Nodepay launches Crypto’s largest Prediction Intelligence platform
    22 hours ago
  • NEWS
    • Mining
    • Altcoins
    • Ban
    • BANKING/FINANCE NEWS
    • Bitcoin
    • Blockchain
    • CRYPTO CRIME
    • Ethereum
    • Exchange News
    • Government News
    NEWSShow More
    Why Shiba Inu Large Transaction Volume Is Dropping Fast
    Why Shiba Inu Large Transaction Volume Is Dropping Fast
    3 weeks ago
    Crypto Tax Rules In Russia – What You Should Know
    Crypto Tax Rules In Russia – What You Should Know
    1 month ago
    Elon Musk Considering Blockchain To Bolster us Government Efficiency
    Elon Musk Considering Blockchain To Bolster us Government Efficiency
    1 month ago
    10 Next Big Meme Coin To Explode
    10 Next Big Meme Coin To Explode
    1 month ago
    9 Best AI-Powered Websites That Save You Hours of Work
    9 Best AI-Powered Websites That Save You Hours of Work
    2 months ago
  • GAMBLE
    • Certified Casinos
    • Bitcoin Casino
    GAMBLE
    If You Looking For Casino Review . Than we Write Many Article About Casino Please Look This Page . We Update This Page On Daily…
    Show More
    Top News
    Slotsflix.com Casino Review : Latest 2022 Review
    Slotsflix.com Casino Review : Latest 2022 Review
    2 weeks ago
    Karisha di ke pass
    Kubet Casino : How To Use & Free Guide
    2 years ago
    Betswap.gg Casino Review: Decentralized Crypto Betting Platform
    Betswap.gg Casino Review: Decentralized Crypto Betting Platform
    Sponsored by
    Latest News
    Unlim Casino 2025 – Games, Bonuses & Crypto Payments
    3 weeks ago
    1win Casino Games – Exciting Slots, Crash Games & Bonuses
    3 weeks ago
    Pinco Casino Review: Games, Bonuses & Features
    3 weeks ago
    r7 Casino Review: Login, Sign Up, Bonuses & Promotions
    3 weeks ago
  • MORE
    • Guide
    • Only Best
    • Off Topic
    • Web Hosting
    • Ad Posting Jobs
    • Best Affiliate Marketing
    • Best Affiliate Programs
    • BOTS
    • Trusted Currency Exchanger Platform
    • Blockchain Games
    • Metaverse Review : Best Metaverse Program Review
    • Online Survey
    • Payment Platform
  • VPN
  • Contact Us
Reading: Shiba Inu Burning Rate Soars As Koyo Promises To Burn 50% of Earnings
Share
Notification Show More
Font ResizerAa
CoinworldstoryCoinworldstory
Font ResizerAa
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
Search
  • HOME
  • CRYPTO
    • AI
    • BOTS
    • ICO
    • AIRDROP
    • Price Prediction
    • EXCHANGE
    • ALTCOIN
    • Alt Coin Signal
    • Crypto Analysis
    • Bitcoin Loan
    • Bitcoin Mining
    • WALLETPRO
  • PR
  • NEWS
    • Mining
    • Altcoins
    • Ban
    • BANKING/FINANCE NEWS
    • Bitcoin
    • Blockchain
    • CRYPTO CRIME
    • Ethereum
    • Exchange News
    • Government News
  • GAMBLE
    • Certified Casinos
    • Bitcoin Casino
  • MORE
    • Guide
    • Only Best
    • Off Topic
    • Web Hosting
    • Ad Posting Jobs
    • Best Affiliate Marketing
    • Best Affiliate Programs
    • BOTS
    • Trusted Currency Exchanger Platform
    • Blockchain Games
    • Metaverse Review : Best Metaverse Program Review
    • Online Survey
    • Payment Platform
  • VPN
  • Contact Us
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Home » Blog » Shiba Inu Burning Rate Soars As Koyo Promises To Burn 50% of Earnings
Altcoins

Shiba Inu Burning Rate Soars As Koyo Promises To Burn 50% of Earnings

How To Find Local Experiences – Travel Like a Local Anywhere
Last updated: 06/04/2023 3:48 PM
Coinworldstory
2 years ago
Share
Disclosure: We are not a registered broker-dealer or an investment advisor. The services and information we offer are for sophisticated investors, and do not constitute personal investment advice, which of necessity must be tailored to your particular means and needs. !
Shiba Inu Burning Rate
Photo by moein moradi on Pexels.com
SHARE

Shiba Inu Burn Rate Explained: Understanding Token Burning

Shiba Inu follows suit, employing token burning as a common practice among cryptocurrency projects. Token burning involves physically destroying some of the tokens currently in circulation, thus decreasing their supply. This is done by sending them to an address from which they cannot be accessed or used again. This practice helps manage cryptocurrency supply, boost its value, and enhance long-term viability.

Contents
  • Shiba Inu Burn Rate Explained: Understanding Token Burning
  • More Than 20.2 million Shiba Inu destroyed
  • Recent Development
  • Big Fish Grab More Than 300 Million In Last Few Hours
  • Koyo Will Burn 50% Of Its Revenue In Shiba Inu
  • Does burning Shiba Inu work?

Shiba Inu’s burn rate is the rate at which its tokens are being burned. As a relatively new cryptocurrency, Shiba Inu has gained notoriety due to its meme-based branding and affiliation with Dogecoin’s community. Therefore, this metric is important for investors and traders as it can significantly impact the value of each token.

Shiba Inu’s burn rate is determined by the total number of tokens being burned and their frequency. They use a system called the “WoofPaper” to establish this policy; it outlines all rules and processes related to burning Shiba Inu tokens. As per this document, 50% of their total supply has now been burned off and removed from circulation.

Shiba Inu tokens remain subject to ongoing burning. The burn rate is determined by several factors, including the number of transactions on the network, tokens held in wallets and demand for the token. As demand grows for Shiba Inu, so could the burn rate correspondingly; leading to a reduction in supply as well as an increase in value overall.

- Advertisement -

Token burning is a way to encourage investors and traders to hold onto their tokens for longer periods of time. Burning tokens reduces their supply, making each remaining one more valuable. This could lead to increased demand for the token which in turn raises its price. Furthermore, token burning helps prevent inflation caused by too many coins in circulation.

More Than 20.2 million Shiba Inu destroyed

Shibburn reports an increase in the burn rate for Shiba Inu tokens. Twenty-two million,583 tokens were transferred to unspendable wallets over 24 hours, although this amount falls short of what was burned earlier this month, the current burn rate represents a 148% rise from yesterday’s rate.

More Than 20.2 million Shiba Inu destroyed

Recent Development

In the last 24 hours, there have been reports of significant developments in the SHIB ecosystem. Notably, there has been a transfer of millions of SHIB tokens from exchanges by large SHIB holders, commonly known as whales. Market analytics firm, Santiment, has revealed that on March 20, six transactions took place, resulting in a transfer of 406 billion SHIB tokens (worth $276 million) from an exchange wallet to a self-custody wallet.

Big Fish Grab More Than 300 Million In Last Few Hours

“BlueWhale0073”, an Ethereum investor known as “BlueWhale0073”, has reportedly increased their cryptocurrency holdings by adding 229,963,072,498 SHIB tokens to their portfolio – worth over $2.5 million. This puts them in 254th position among the top 500 investors on the Ethereum network according to WhaleStats.

Koyo Will Burn 50% Of Its Revenue In Shiba Inu

Koyo’s platform utilizes its native cryptocurrency, the Koyo token, as a payment option. At present, attention is being drawn to their ongoing SHIB burns. As of Monday, the project had already burned through an impressive amount of Shiba Inu tokens–4.631 billion–equal to approximately $50,000.

- Advertisement -

Yet they have continued their efforts with another 733.02 million SHIB tokens being burned on Tuesday. Koyo’s burn was carried out by transferring tokens to Shiba Inu’s dead wallet, accounting for most of the SHIB burn that day as reported by SHIB Burn. Within 24 hours only 25 million SHIB tokens had been burned by other entities – an indication of Koyo’s significant contribution to this burn.

Does burning Shiba Inu work?

Burning Shiba Inu tokens or any cryptocurrency can be highly effective depending on a variety of factors.

Burning tokens can lead to a decrease in their total supply, which could ultimately increase the value of any remaining coins in circulation. The idea behind this is that as demand for these coins increases due to decreased availability, their market value could potentially rise. Moreover, token burns create an atmosphere of scarcity which may bolster investor interest and further fuel demand.

- Advertisement -

However, the success of token burns in achieving their objectives can be determined by several factors, including market conditions and investor sentiment. If there is already too much token supply on the market, burning a small fraction may not have much of an effect on its value. Furthermore, if investors’ demand does not significantly increase, then those remaining tokens may remain worthless.

Furthermore, burning tokens does not guarantee success in the long run. The value of a cryptocurrency depends on factors like its adoption rate, development progress and overall market sentiment.

In conclusion, burning Shiba Inu tokens may lead to an increase in value; however, the effectiveness of this mechanism is uncertain and depends on a variety of factors.

Why Shiba Inu Large Transaction Volume Is Dropping Fast
10 Next Big Meme Coin To Explode
10 Best In Crypto for Couples: Joint Wallets, Shared Goals, and Love Tokens
‘Digital Slop’: What Solana’s Creator Really Thinks About the Tokens Powering His Network
Altcoin Market Sees Renewed Momentum Amid Bitcoin Dominance Shift
Share This Article
Facebook Email Print
How To Find Local Experiences – Travel Like a Local Anywhere
ByCoinworldstory
Coinworldstory.com Provide Latest Review From, ICO,, Bitcoin, Paid To Click, Blockchain Technology, Affiliate Marketing, Mlm, Etc.Our Team Expert In This Field And Provide Latest Information To Our Users. Thanks For Visiting Coinworldstory.com
Previous Article Spheroid to Launch AI Avatars in Augmented Reality Spheroid to Launch AI Avatars in Augmented Reality
Next Article Finalscout Ai Email Finding Tool Review : How To Use & Free Guide Finalscout Ai Email Finding Tool Review : How To Use & Free
10 Best Crypto Exchanges For Grid Trading
10 Best Crypto Exchanges for Grid Trading In 2025
Best Centralized Exchange List 2025
BTCC Exchange Announces Triple Global Workforce Expansion at TOKEN2049 Singapore to Power Web3 Evolution
Press Releases
1inch rebrands to reflect broader mission uniting DeFi and global finance
Press Releases
The Sandbox CEO Robby Yung Unveils Vision with New AI, Web3, and Mobile Initiatives
Press Releases

Latest Published

Shiba Inu Holders Make Bold Move in Shibarium Burn Vote Using 120K BONE

Shiba Inu Holders Make Bold Move in Shibarium Burn Vote Using 120K BONE

2 months ago
Solana Founder’s Comment Sparks Debate After Block Capacity Upgrade Hits New Performance Milestone

Solana Founder’s Comment Sparks Debate After Block Capacity Upgrade Hits New Performance Milestone

2 months ago
Altcoin Surge at Risk as Bitcoin Dominance Flashes a Critical Warning Sign

Altcoin Surge at Risk as Bitcoin Dominance Flashes a Critical Warning Sign

2 months ago
Solana Hits Critical Resistance at $190 as Supply Wall Threatens to Stall Momentum

Solana Hits Critical Resistance at $190 as Supply Wall Threatens to Stall Momentum

2 months ago
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
What Is Solana? A Complete Guide to the Fast and Scalable Blockchain
What Is Solana? A Complete Guide to the Fast and Scalable Blockchain
Trending
10 Best Shoes For Bunions – Comfort, Support & Pain Relief
10 Best Shoes For Bunions – Comfort, Support & Pain Relief
Trending
10 Best Macroeconomics Books-for Students and Professionals
10 Best Macroeconomics Books-for Students and Professionals
Trending
CoinworldstoryCoinworldstory
Follow US
© Coinworldstory News Network. Cws Design Company. All Rights Reserved.
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..
[mc4wp_form]
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?