Nowadays, it is clear that the prevalent stringent conditions in the crypto market are hindering the progress of digital assets and several prominent crypto tokens are undergoing significant losses with their communities desperately pursuing some other solutions to endure the current situation. Among the top active communities, the Shib Army counts to be a prominent one. During the previous 24 hours, it has burned approximately 329,221,379 SHIB coins.
The Shib Army Responds to the Collapse of the Crypto Market
As per Shibburn, the number of transactions made only during the recent 24 hours is 18, while in 6 among them were burned over 10M SHIB tokens each in solo transfers. The crypto enthusiasts, following the elevation of nearly 332% in SHIB over the recent 24 hours, are more hopeful regarding the future of the prominent meme token. Only two days back, a heightened whale operation was indicated by the analysts in terms of SHIB. In this way, the news regarding the next Shibarium could be a possible cause at the back of the bullish trend that has been witnessed to this day.
Nonetheless, due to the recent market crash – which took place because of the ever-increasing inflation throughout the market – a few people that were a part of the Shib Army were not that much optimistic. To step up the faith of the community, some positive phrases are being circulated on social media platforms by the SHIB holders.
Community Care Initiates Responding to the Price of SHIB
Several influencers in the Shiba Inu community have been proposing that the holders should burn SHIB coins. On the contrary, several participants were not feeling comfortable because of the delays occurring in the rewards over burnings. Eventually, the general objective of the burning of the SHIB tokens is considered to be nearly achievable as a spike of almost 6.7% has been witnessed in the token’s price over the past 24 hours. As shown by the data on CoinGecko, the present value at which Shiba Inu (SHIB) is trading is up to $0.00000842.
In the current year, many exclusive advancements and use cases have been seen in the Shiba Inu project and few of them put a great impact on the price of the native token thereof, whereas the others dealt with the quality-related features. 3 months ago in March, the platform declared to have some development in the world of the Metaverse. Apart from this, Ryoshi (an anonymous developer at the SHIB venue) left his place. Nonetheless, the continuum of development did not break as the resilient enthusiasts and developer community supported the platform.
An Italian food-offering venue, WellyFriends started a partnership with SHIB in the early days of this year. The company has now declared an event to mint non-fungible tokens (NFTs) where the fans can purchase exclusive SHIB NFTs.
A game developer named Travis Johnson declared that the affiliate program of Amazon has accepted his firm and he wants to utilize the sales commission earned from this project for the funding of the burning exercise of SHIB tokens.
