The Expected News for the Shiba Inu Has Arrived: The Date Has Been Set!

Shiba Inu: The news that investors of the popular meme coin Shiba Inu (SHIB) have been eagerly waiting for has arrived. Shiba Inu combustion portal awards or Ryoshi Vision awards will go to holders shortly.

Shiba Inu burning portal rewards coming soon

ShibaSwap DEX Twitter account shared a news that Shiba Inu investors are eagerly waiting for. Accordingly, it is possible for the highly anticipated SHIB burning portal rewards or Ryoshi Vision rewards to be distributed within 48 to 72 hours after June 26. However, the ShibaSwap DEX team says it will report developments in another update upon the release and subsequent completion of the rewards.

What is the purpose and impact of the SHIB incineration portal?

The burning portal ShibBurn was created in late April in collaboration with the creators of RYOSHIS VISION, an ERC20 token that seeks to expand the Shiba Ecosystem. The SHIB team explains the purpose of the portal as follows: We created the Combustion portal to reward SHIB burners with a passive income endorsement in the form of RYOSHI Awards. Also, 0.49% of all RYOSHI transactions will go to burntSHIB holders.

In addition, the team also launched the Shiba Burn Smart Contract. It is possible that this could be used to award rewards for projects to create a ‘BURN Pool’ and burn SHIB tokens. As we reported, SHIB holders flocked to burn their tokens. Meanwhile, a staggering eight billion tokens went to the dead wallet within 24 hours of the launch of the SHIB burn portal. Almost two months after the first burn, more SHIB tokens have been burned.

As of June 19, recent reports indicate that over 55 billion SHIB tokens have been sent to the burn wallet. It is possible for users to send SHIB tokens to a burn address, permanently removing them from the circulating supply. With this method, they are trying to create a token shortage. They ensure that the price of the token, which becomes scarce, naturally increases.

shiba inu

Shiba Inu price performance and whale movements

SHIB became one of the biggest winners in the crypto market on June 21. The meme coin recorded a sharp increase of more than 45% on a weekly basis. At press time, SHIB was trading at $0.00001155, up 2.44% in the last 24 hours. The meme coin, on the other hand, took a serious hit in the recent market crash. It currently stands 87% off the ATH level of $0.00008845.

In addition, SHIB accumulation continues among whales. It is among the top 10 coins in terms of trading volume among the top 500 ETH whales in the last 24 hours, according to whale watching platform WhaleStats. In addition, currently, the 2,000 largest ETH whales hold SHIB worth $672,830,327. Meanwhile, the number of Shiba Inu holders rose to 1,189,608 and recorded significant growth in June.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing site 3 months ago.