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Shiba Inu turned two years old yesterday.
For many people it came as a surprise when a SHIB burning platform said Amazon as a successful SHIB burner. Travis Johnson, the person behind the shib_superstore Twitter account, recalled his claim for the Shiba Inu community. He said that his experiment of burning Shiba Inu using Amazon fulfilled its objective and ended up burning a notable amount of meme tokens daily.
The Twitter handle used an affiliate program of Amazon with the intention of burning Shiba Inu. It’s been several months now for this initiative. Now the experiment started showing fruitful results. On 3rd August, 2022, Johnson went on to twitter and said that the burning program on Amazon turned out to be a solid daily burner for Shiba Inu.
Johnsons described that the protocol managed to burn about 426,621 to 4,212,299 Shiba Inu tokens daily. Despite eliminating a significant amount of meme tokens, it only accounts for about 5 USD to 50 USD worth SHIB burning per day, given its dirt cheap cost. However, the Amazon burning program has proven to reduce about 122,206,201 meme tokens from circulation on a monthly basis. This includes other subsidiaries like Youtube and mobile phone games initiative to burn Shiba Inu.
Yesterday on 2nd August, 2022, Shiba Inu turned two years old and SHIB army also celebrated this day in their own way. Burning platform of Johsnson was reported to burn 2,588,178 Shiba Inu tokens. This accounts for burning meme tokens worth 32 USD.
Another Shib burn program reported burning of 60,319,152 meme tokens in the last 24 hours. However it also showed concern about the drop in SHIB burn rate by approx 61%. Earlier it was also reported that there were only 1.13 billion SHIB worth 13,500 USD burned that accounts for only 0.0002% of overall supply. Clearly the concerns are apparent given the impact of burning in this slow pace would not make Shiba Inu price any further.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
