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Shiba Inu has some interesting developments: Shiba Inu burn rate witnessed a 200% hike in the last 24 hours and team has teased the launch of its SB Visa card.
The Shiba Inu team and Ryoshi Vision (RYOSHI) previously launched a joint effort called the SHIB Burn portal. The combined effort was designed to inspire the SHIB Army to ignite more SHIB on fire and win lucrative prizes in the process.
However, due to the incredibly long award distribution procedure, many SHIB holders are losing patience and things are not progressing as expected.
The Shiba Inu community has burned through an astonishing 110M SHIB coins in the last 24 hours alone, even though the users haven’t been rewarded for the promise that was made.
In the past 24 hours, there have been a total of 110,289,311 $SHIB tokens burned and 16 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) July 25, 2022
In comparison to the burn rate of yesterday, there has been a complete reversal in the last 24 hours. The burn rate, which was 60% down yesterday, is currently 202.26% up in the last 24 hours.
Additionally, Shiba Inu (SHIB) made the decision to announce some significant news on Monday morning. The memecoin team has teased the launch of its SB Visa card, but no other details have been disclosed.
Shibburn is going in a new direction. #shib #shibarium pic.twitter.com/IzcQMtvs6P
— Shibburn (@shibburn) July 24, 2022
The Shiba Inu (SHIB) ecosystem will soon welcome the SB Visa card, which has the potential to significantly speed up the incentive distribution process. Additionally, for every card payment, the card will burn more SHIB.
Shiba Inu is currently trading at $0.00001129 with a 3.9% loss in the last 24 hours. In comparison to the last 30 days, SHIB has only displayed 3.8% gains in the last 30 days. The coin seems to be cooling down from all the previous rallies as its double-digit gains are slowly fading away.