Is there going to be a big burn & pump in the Shiba Inu Coin? Explained

Is there going to be a big burn & pump in the Shiba Inu Coin

The Shiba Inu development team is constantly looking for new methods to improve the Shiba Inu ecosystem’s stability and efficiency. This is evidenced by the most recent development. Bigger Entertainment has shared some exciting news in a tweet, and they have kept their word to the Shiba Inu community. 

Millions of tokens were burned in a massive burn, making Shiba Inu one of the most powerful cryptocurrencies in the crypto trading market. In this post We’ll discuss “Is there going to be a major PUMP in the Shiba Inu Coin in the coming months?” and can Shiba Inu has the potential to make millionaires in near future.

Updates that Happened 

SHIB’s official Twitter account just made an interesting statement. They tweeted that the Shiba Inu ecosystem’s official communication portal has been opened, with the goal of it serving as a means of contact for all Shiba Inu ecosystem users. 

“We’ve been hard at work over the holidays and are thrilled to launch our new Shiba Inu ecosystem official communication Portal,” the tweet added. This will be the official medium/ line of communication for our ecosystem. Woof! #SHIBARMY”.

The communication portal has been revealed by the portal. “As we conclude the year and wish everyone a Happy SHIB New Year,” the portal adds, “our hearts have never been more focused on making this project better, in order to spread even more confidence for the ecosystem while supporting community growth.” 

Shiba Inu was always intended to be more than just a symbol or a form of payment. This is why projects such as SHIBASWAP, SHIBARIUM L2, the Shiba Inu game, and the OSHIVERSE were developed and will be implemented. 

With all of these varied activities increasing the Shiba Inu ecosystem and community, a reliable and efficient means of communication becomes critical. As a result, an official communication platform has been launched. 

According to Shiba Inu, the communication web will also serve as a blog, covering a variety of topics relevant to the project. We’ll have development updates, timetables, feedback, collaborations, bread news/reports, games, updates, and practically anything else related to the Shiba Inu ecosystem on the blog-like portal. 

The update was wrapped up with, “Thank you for all your support. Incredible things are on the horizon. We can’t wait to share more with you. We are #ShibArmy! Woof!”.

Shiba Token Burn

There are many positive developments in the Shiba Inu ecosystem and community. The SHIB burns are now the best thing going on. As a consequence of several initiatives, a large amount of SHIB has been burnt thus far. 

More than 400 billion SHIB have already been burned out of the 1 trillion SHIB that were released at the time of the token’s launch. Plans are already in place to double down on burn efforts in the new year. For the first quarter of the year, Bigger Entertainment has mapped up plans for SHIB burns. 

These plans appear to have been improved, and the burning will no longer occur every month in 2022. The tweet says, “#SHIBARMY You asked for it so we’re gonna make it happen! Bigger Entertainment has huge plans for 2022! We’re hosting #SHIB burn initiatives Every month Next year!” Bigger Entertainment is planning a lot in 2022.

Bigger entertainment is making sure that there will be a HUGE burn activity every month in the new year. SHIB lovers merch will drop from January 14th to February 14th and 80% of the proceeds will be directed to burns. From February 7th to 13th will be a SHIB Superburn event for the soccer fans. 

While NFT Madness scheduled for March 13th to April 4th will resonate better with Basketball fans. Bigger Entertainment predicts that this NFT Madness would pull the largest amount of burns. All this information is detailed on the Bigger Entertainment blog, which doesn’t only detail the plans for the year 2022, but also gives the details of the burn that happened on the 26th of this month. Anyway, Bigger Entertainment is calling its burn plans for 2022 “A Bigger Burn Roadmap for 2022”.

According to the company, “Now as this year begins to end, the new year is approaching fast, but don’t worry! Or SHIB burns will NOT be a thing of the past!! We have a roadmap planned for 2022, with burn initiatives happening EVERY month”. 

I’ve talked about what will happen in the first 3 or 4 months. But as for the rest of the months, Bigger Entertainment has said “More details about each of these burn initiatives and upcoming burn events will be coming soon!. And then went on to encourage the community to follow it on its different social media handles.

Ethereum Burn

Ethereum has burned 1.2 million ETH in the last four months, bringing the total amount of ETH burned to about $5 billion. This comes after “the Ethereum network implemented the London hard fork” on August 5th, according to Bitcoin.com

The new initiative allowed for the burning of over 1 million ether for a total cost of $5 million. The purpose of the London upgrade, in terms of the chain, was to include a number of extra rule sets.” The most transformative included EIP-1559, an Ethereum rule-set update that enabled a new fee rate scheme allowing the network to burn a percentage of Ether,” according to Bitcoin.com

“The method results in the basic charge per gas increasing when blocks are above the gas target, and reducing when blocks are below the gas target,” according to the EIP-1559 description notes. The base fee is charged per gas consumed.” Of all the initiatives that have contributed to ether burns, Bitcoin.com mentions that the NFT platform, Opensea, contributed the most to burns. 

Only Opensea burned more than 100,000 ether worth almost $500 million and across 9.5 million transactions. The next significant contributor to ether burns is traditional ether transfers by network participants which burned just a few thousand less than Opensea. Burns have also been caused by Uniswap v2, Uniswap v3, Metamask, USDC, Axie Infinity, Sushiswap, and the Opensea Registry. 

Why we’re talking about eth burns on a Shiba Inu Topic

Shiba Inu, as we all know, is based on the Ethereum blockchain, therefore anything that affects Ethereum has the potential to affect Shiba Inu as well. But there’s more to it than that. The numerous factors involved in eth burns provide us an idea of the wide range of resources and elements that may be used in Shib burns to bring the token to the desired price range. 

It is self-evident, for example, that NFT transactions can be tremendously useful to Shib burns. It was the most common cause of burns, thus Shiba Inu would undoubtedly profit from it. Thankfully, this idea is being looked at, with Bigger Entertainment’s NFT Madness set to begin in March 2022. 

So, based on eth’s reactions, I feel it’s reasonable to say that we may expect significant burns as a result of the incident. In order to minimize the quantity of SHIB in circulation, Shiba Inu might explore decentralized exchanges and conventional SHIB transfers by network participants. SHIBASWAP, similar to SUSHISWAP for eth, might be effective for SHIB burns.

Bottomline

The purpose of this entire article is that Shiba Inu will virtually burst in 2022; it will be more efficient, run smoother, and have a lot of burns. So, fasten your seat belt and settle in for the ride because Shiba Inu has the potential to make millionaires in near future.

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Disclaimer: Please be aware of the dangers associated with investing. All of your investment should be done with caution. I am not a registered investment advisor or financial advisor. This website is solely for the sake of entertainment and education. This website is not responsible for any losses that may occur.

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