{"id":515211,"date":"2023-01-08T03:56:19","date_gmt":"2023-01-08T08:56:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=515211"},"modified":"2023-03-08T07:26:28","modified_gmt":"2023-03-08T07:26:28","slug":"shibarium-burn-of-shib-tokens","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shibarium-burn-of-shib-tokens\/","title":{"rendered":"Shibarium Developers Say Each On-Chain Transaction Will Burn SHIB Tokens"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Shibarium is one of the most anticipated projects, mainly in the <\/span><a href=\"https:\/\/uniquehot.com\/press-releases\/dogecoin-doge-and-shiba-inu-shib-investors-are-moving-to-snowfall-protocol-snw\/\"><span style=\"font-weight: 400\">Shiba Inu<\/span><\/a><span style=\"font-weight: 400\"> community; most SHIB community members are eager for the launch as it could be enough of a catalyst to pump their SHIB bags.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Latest on the news about the layer two blockchain scaling solution, the developers <\/span><a href=\"https:\/\/twitter.com\/shibariumnet\/status\/61964544?s=46&amp;t=DVo232iASskHFU5NJXyCqw\" rel=\"nofollow\"><span style=\"font-weight: 400\">announced<\/span><\/a><span style=\"font-weight: 400\"> via a short thread on Twitter earlier today that every transaction on the Shibarium network would result in a burn of Shiba Inu (SHIB) token.<\/span><\/p>\n<h2><strong>Shibarium Burn Mechanism To Boost SHIB Price Over Time?<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Currently, <\/span><a href=\"https:\/\/uniquehot.com\/press-releases\/shiba-inu-shib-snowfall-protocol-snw-or-terra-classic-lunc-which-crypto-will-touch-the-1-mark-first\/\"><span style=\"font-weight: 400\">SHIB<\/span><\/a><span style=\"font-weight: 400\"> has a circulating supply of 589 trillion units and a total supply that exceeds 900 trillion. Its initial total supply was reduced with a recent burn and with the soon-to-be-introduced burning mechanism by Shibarium, SHIB&#8217;s price is likely to appreciate as the supply will be reduced.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Though the amount of SHIB token that will be burned after each transaction has not been revealed, the burning mechanism is likely to be a good enough catalyst for not only the SHIB token but the Shibarium blockchain.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/press-releases\/dogecoins-doge-space-mission-shiba-inus-shib-shibarium-and-snowfall-protocols-snw-grand-launch-heres-why-january-2023-looks-promising-for-these-tokens\/\" target=\"_blank\" rel=\"noopener \">Dogecoin\u2019s (DOGE) space mission, Shiba Inu\u2019s (SHIB) Shibarium, and Snowfall Protocol\u2019s (SNW) grand launch \u2013 Here\u2019s why January 2023 looks promising for these tokens<\/a><\/div>\n<h2><strong>Recent Update Reflects On BONE Token<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In its previous update, the Shibarium team cleared some false circulating speculations about the <\/span><a href=\"https:\/\/uniquehot.com\/press-releases\/vision-of-blockchain-vob-is-now-available-for-trading-on-lbank-exchange\/\"><span style=\"font-weight: 400\">blockchain<\/span><\/a><span style=\"font-weight: 400\"> and what native token it will utilize. Shibarium developers noted that BONE will be the only token that would be used for gas fees and \u201cNo other tokens will be necessary to operate within the protocol.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">For context, BONE is a governance token of the Shibaswap ecosystem, allowing the SHIB community to vote on upcoming proposals in the ecosystem. The more BONE coins a user holds, the more weight their vote carries in future proposal.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Though it may seem as though <\/span><a href=\"https:\/\/uniquehot.com\/shiba-inu\/why-is-shiba-inus-bone-on-the-rise-and-is-it-time-to-get-in\/\"><span style=\"font-weight: 400\">BONE<\/span><\/a><span style=\"font-weight: 400\"> is the main character of the Shibarium blockchain, it is not, but more of a partner that will work hand in hand with SHIB. \u201cShibarium has been developed for <\/span><a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-lead-ignites-buzz-partnership\/\"><span style=\"font-weight: 400\">SHIB token <\/span><\/a><span style=\"font-weight: 400\">and not for the sake of other projects who claim ownership or speculation surrounding its operability dependency on any other tokens,\u201d the Shibarium team announced.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-lead-ignites-buzz-partnership\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Lead Dev Ignites Buzz About New Partnership, SHIB Price Stagnates<\/a><\/div>\n<p><span style=\"font-weight: 400\">So far, BONE has been moving in a positive direction. With consolidation almost as if it\u2019s waiting for the Shibarium launch to make a significant move, the BONE token currently ranks at a position of 113 on CoinGecko with a market cap of more than $250 million. Its current market price at the time of writing is $1.1, with a 24-hour trading volume of $4.1 million.<\/span><\/p>\n<figure style=\"width: 1381px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/XUBHZGw0\/\" alt=\"SHIB Price Chart On TradingView\" width=\"1381\" height=\"753\"><figcaption class=\"wp-caption-text\">SHIB price is moving sideways on the 4-hour chart. Source: SHIB\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/XnG6rHFG\/?symbol=BINANCE%3ASHIBUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">SHIB token, on the other hand, currently ranks higher on CoinGecko, owning the 16th position with a market cap almost heading to $5 billion. It currently has a trading price of $0.00000845 at the time of writing, with a 24-hour trading volume of $175 million.<\/span><\/p>\n<p><em>-Featured image: Shib Army News<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shibarium is one of the most anticipated projects, mainly in the Shiba Inu community; most SHIB community members are eager for the launch as it could be enough of a catalyst to pump their SHIB bags.\u00a0 Latest on the news about the layer two blockchain scaling solution, the developers announced via a short thread on Twitter earlier today that every transaction on the Shibarium network would result in a burn of Shiba Inu (SHIB) token. Shibarium Burn Mechanism To Boost SHIB Price Over Time? Currently, SHIB has a circulating supply of 589 trillion units and a total supply that exceeds 900 trillion. Its initial total supply was reduced with a recent burn and with the soon-to-be-introduced burning mechanism by Shibarium, SHIB&#8217;s price is likely to appreciate as the supply will be reduced. Though the amount of SHIB token that will be burned after each transaction has not been revealed, the burning mechanism is likely to be a good enough catalyst for not only the SHIB token but the Shibarium blockchain.\u00a0 Related Reading: Dogecoin\u2019s (DOGE) space mission, Shiba Inu\u2019s (SHIB) Shibarium, and Snowfall Protocol\u2019s (SNW) grand launch \u2013 Here\u2019s why January 2023 looks promising for these tokens Recent Update Reflects On BONE Token In its previous update, the Shibarium team cleared some false circulating speculations about the blockchain and what native token it will utilize. Shibarium developers noted that BONE will be the only token that would be used for gas fees and \u201cNo other tokens will be necessary to operate within the protocol.\u201d For context, BONE is a governance token of the Shibaswap ecosystem, allowing the SHIB community to vote on upcoming proposals in the ecosystem. The more BONE coins a user holds, the more weight their vote carries in future proposal. Though it may seem as though BONE is the main character of the Shibarium blockchain, it is not, but more of a partner that will work hand in hand with SHIB. \u201cShibarium has been developed for SHIB token and not for the sake of other projects who claim ownership or speculation surrounding its operability dependency on any other tokens,\u201d the Shibarium team announced. Related Reading: Shiba Inu Lead Dev Ignites Buzz About New Partnership, SHIB Price Stagnates So far, BONE has been moving in a positive direction. With consolidation almost as if it\u2019s waiting for the Shibarium launch to make a significant move, the BONE token currently ranks at a position of 113 on CoinGecko with a market cap of more than $250 million. Its current market price at the time of writing is $1.1, with a 24-hour trading volume of $4.1 million. SHIB token, on the other hand, currently ranks higher on CoinGecko, owning the 16th position with a market cap almost heading to $5 billion. It currently has a trading price of $0.00000845 at the time of writing, with a 24-hour trading volume of $175 million. -Featured image: Shib Army News<\/p>\n","protected":false},"author":580,"featured_media":515266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1020,1558,83668,86578,87680],"class_list":["post-515211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-cryptocurrency","tag-shib","tag-shiba-inu-shib","tag-shibarium"],"acf":[],"yoast_head":"\n<title>Shibarium Developers Say Each On-Chain Transaction Will Burn SHIB Tokens<\/title>\n<meta name=\"description\" content=\"Shibarium is one of the most anticipated projects, mainly in the Shiba Inu community; most SHIB community members are eager for the launch as it could be\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/shibarium-burn-of-shib-tokens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shibarium Developers Say Each On-Chain Transaction Will Burn SHIB Tokens\" \/>\n<meta property=\"og:description\" content=\"Shibarium is one of the most anticipated projects, mainly in the Shiba Inu community; 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shibarium Developers Say Each On-Chain Transaction Will Burn SHIB Tokens","url":"http:\/\/uniquehot.com\/news\/shibarium-burn-of-shib-tokens\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/shibarium-burn-of-shib-tokens\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/shiba.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/shiba.png?fit=819%2C459"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","cryptocurrency","shib","shiba inu (shib)","shibarium"],"dateCreated":"2023-01-08T08:56:19Z","datePublished":"2023-01-08T08:56:19Z","dateModified":"2023-03-08T07:26:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shibarium Developers Say Each On-Chain Transaction Will Burn SHIB Tokens\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shibarium-burn-of-shib-tokens\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shibarium-burn-of-shib-tokens\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/shiba.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/shiba.png?fit=819%2C459\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"cryptocurrency\",\"shib\",\"shiba inu (shib)\",\"shibarium\"],\"dateCreated\":\"2023-01-08T08:56:19Z\",\"datePublished\":\"2023-01-08T08:56:19Z\",\"dateModified\":\"2023-03-08T07:26:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/shiba.png?fit=819%2C459","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/515211"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=515211"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/515211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/515266"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=515211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=515211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=515211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}