In response to the ongoing bearish, the SHIB ARMY has not conceded to it at all, they sort for everything to maintain the community in the presence of the market collapse. In the last 24 hours, 329,221,379 SHIB tokens were burned.
As stated by the post on Shibburn.com, 18 transactions were made in the course of the burn of which 6 of the transaction claimed over 10 million each.
The burning over the 24 hours has resulted in the 332% increase in SHIB burning which eventually lead the crypto enthusiasts to be more optimistic about the popular meme coin.
Just some days ago, it was announced by Crypto analyst the increased whale activity around SHIB, and news about the forthcoming Shibarium could well have added fuel to the bullish trend seen today.
The recent inflation has some kill the morale of some Shib Army, some of the SHIB holders on Twitter have to come online to say some affirmative phrases such as “Keep calm and HODL SHIB”. Hashtags like #StayStrong are among the most popular being used by the Shib Army on Twitter today.
Presently, the Shib Army has chosen to remain in the kitchen to keep the community erect especially in this time of bearishness.
The happenings in the Shiba community few weeks to months now have been speaking audibly of a better future in the meme coin. Ranging from modifying the Shib Metaverse to acquire land, to the support of Xceltrip, Shiba Inu was accepted by thousands of restaurants in more than 65 countries as Lavu and Verifone some days ago
Three days ago, the Shiba Inu was taken to the station for regular featuring of the coin as stated by the host of the radio station.
Nevertheless, SHIB’s value is still 23.8% down from a week ago, and it seems that Shiba Inu still has a long way to go to make up for the 32.9% deficit recorded in May. In more positive terms, compared to one year ago, Shiba Inu (SHIB) is 22.9% in the green, which suggests to traders that the popular meme coin still has long-term holding potential.
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[…] Yesterday, Cryptolifedigital reported that over 329 million SHIB tokens were destroyed, just to maintain the Shib price especially because of the present bearish in the crypto market generally. […]