According to data revealed by the Shibburn tracking website, over the past week there has been a substantial increase in terms of SHIB burns as this metric increased by over 100%.
According to data revealed by the Shibburn tracking website, over the past week there has been a substantial increase in terms of SHIB burns as this metric increased by over 100%.
Similarly, a recent tweet from the aforementioned source also showed an increase in daily SHIB burns.
SHIB burn rate increases
A recent tweet posted by Shibburn claims that in the last week, a total of 102,040,474 SHIB have been sent to dead-end blockchain wallets, giving the burn rate a 160% increase.
As for daily burns, we can see an increase of almost 40% with 1,530,193 SHIB burned since last morning.
This week the daily SHIB burn rate was mostly in the red, so this is a rare time this week where you can see an increase towards the green area.
Meanwhile, the SHIB team continues to test the automated way of burning SHIB on the Shibarium testnet known as Puppynet. These tests began in January and marked a new era in SHIB burns even though the new mode has not yet been implemented on the Shibarium mainnet.
So far, 410,708,406,779,693 SHIB have been burned from the general circulating supply, according to Shibburn’s website.
Exciting new ERC-404 NFTs are coming
Shiba Inu team member Lucie posted a tweet about the upcoming release of SHE-boshis’ new NFT collection made with the new Ethereum-based 404-ERC standard. The sheboshis were announced before Valentine’s Day and this collection is dedicated to women to praise them and establish a strong future for NFTs.
Once launched, Sheboshis will be tradable on Uniswap and ShibaSwap. There is a plan to connect them with Shibarium in the future. Lucie compared 404-ERC NFTs to Bitcoin Ordinals in the early days. Lucie stated that with ERC-404 NFTs the value is tied to tokens in real-time mode, which can be monitored using charts. Although gas rates are higher here, this also means “greater investments, leading to more significant market movements.”
Lucie added that ERC-404 turns NFTs into more than just digital art by adding value and “breaking the mold.” She reminded the community that Sheboshis have not yet been minted, thus warning the army about possible scams.
