Shiba Inu starts testing his burning portal
- Posted on June 9, 2022
The Shiba Inu development team has started testing the flashing portal the developers announced last month
According to the latest news, Shiba Inu
The development team behind it began testing the burn portal the developers announced last month.
The SHIB Burn Portal will help its users burn tokens on a regular basis by reducing its circulating supply. According to CoinMarketCap, the total supply of SHIB is 589 billion, with 10 billion initially created. This figure far exceeds that of its rival meme Dogeceoin Governor
The total supply is 132,670,764,300 pieces.
By burning tokens, the supply is reduced, making Shiba Inu deflationary. According to the website that tracks Shiba Inu burns, more than 410 billion tokens have been burned so far.
The SHIB team announced “The development team is currently working on a burning portal for SHIB. There is no release date yet, but testing has started and more details are coming. Burning SHIB is a core aspect of our ecosystem that we have been exploring through public services. A new option for burning SHIB.”
The crypto project also announced Defense Breed, a team dedicated to protecting the SHIB ecosystem from malicious projects or those who intend to exploit the community.
In a blog post, the Shiba Inu developer noted that “Defense does not attempt to harm other projects, but the Defense team will be asked to make clear and concise statements about the reality of reality if required.”
Last week, SHIB surpassed FTX Token, the native token of major U.S. crypto exchange FTX, to become the most popular token in the largest Ethereum wallet in dollar value.
According to data shared by WhaleStats, a service that tracks the behavior of cryptocurrency whales, Ethereum’s whales, the crypto language of big holders, prefer Shiba Inu to FTX tokens.
At the last revision, the Shiba Inu was trading at $0.0000224, indicating a loss of 0.44% over the past 24 hours.
The Shiba Inu development team has started testing the flashing portal the developers announced last month