David Gokhshtein Says “SHIB Started This Entire Burn Craze” As An Acknowledgement Of the Shiba Inu Team’s Good Work

A crypto expert and former US congressional candidate, David Gokhshtein say; “SHIB started this entire ‘burn’ craze,” as a sign of acknowledgement of the good work the Shiba Inu team are currently doing in the quest to support its price.

Shiba Inu Surfaced In August 2020

It is worth noting that the Shiba Inu was created in August 2020, with a total supply of 1 Quadrillion. This was created to attract the attention of the masses who missed out on the Dogecoin frenzy.

The total supply of the Shiba Inu wasn’t an issue at first but later, the community saw the need to massively reduce the supply to avoid continual low prices.

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There is no doubt that Shiba Inu is one of the top cryptocurrencies with a lot of crypto enthusiasts aiming at the growth and development of the entire ecosystem.

In the quest to get the supply reduced, the community called on the team to burn a part of the supply to bolster SHIB’s price. A burn wallet was created to this effect, where concerned SHIB investors can send some amount of the tokens to boost its value. 

Aside from the above, there are other various efforts made to get the supply, for instance, Bigger Entertainment announced that it would burn SHIB via some of the profit obtained from selling concert tickets.

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Although, Bigger Entertainment later put a stop to the campaign and the SHIB enthusiasts continue the work. After a while, the Shiba Inu development team launched an official burn portal to make burning easy. Since then, above 60 billion SHIBs have been incinerated.

Aside from the community’s effort toward reducing the SHIB total supply, many crypto communities have been pushing for burns. For instance, Cardano enthusiasts such as Charles Hoskinson, have called on the project team to burn a part of the coin’s supply.

David Once Commented On SHIB Price

It is worth noting that David Gokhshtein has been following Shib closely over the past few days, he had recently commented on the SHIB price alongside the Veteran Crypto Trader, Peter Brandt.

Gokhshtein stated: “Anyone watching SHIB right now. It looks like it’s fueling up for another leg.”