Shiba Inu Army Burns over 100 Million SHIB as Developer Shares BONE Contract Update

SHIB Surges 103% in Burning Activity as Community Rallies for Scarce Supply

Shiba Inu army continues to burn millions of SHIB by sending them to addresses from which these tokens can never be recovered. Building on this, Shibarium keeps expanding and setting new records.

The good news for the SHIB army this time around includes another update. SHIB developer, Kaal Dhairya, shared details of the team’s plans to renounce the BONE contract. 

Tens of Millions of SHIB Burned

According to Shibburn Explorer, which publishes information on hourly SHIB burns, a significant number of SHIB was transferred to non-spendable blockchain wallets over the last 24 hours.

The Shiba Inu community’s fervor this time has led to the removal of 142,554,157 SHIB dog-themed tokens from the market, pushing the burn rate up by 344.95%. The two most notable transactions were for 34,469,159 SHIB and 10,844,851 SHIB.

According to data released by Shibburn earlier, this is the highest level the SHIB burn rate has been able to attain this week. For the last two days, it only increased by 62% and 12%.

Read Also: Shiba Inu: Shibarium Achieves 2M Transactions in Just 15 Days; Records 200k Daily Transactions 

SHIB Team Announces Intentions about BONE Contract 

In a blog post, leading SHIB developer Kaal Dhairya informs the public about the actions the SHIB team intends to take to renounce the BONE contract. Since the team has few mainnet retries and there is no room for error, Dhairya noted that these procedures will take some time. Before taking any genuine action to renounce the contract, “everything has to be tested thoroughly multiple time so there are no losses.”

This week, a member of the SHIB team named Lucie stated key ideas of the blog post on X (formerly Twitter).

The developer listed some actions, including adding a Timelock contract with a delay for security, minting BONE and Calcium, a fake token with no real worth (anyone claiming otherwise and offering to buy it should be regarded as scammers), altering prizes, and others.

The BONE token has received numerous additional listings recently. These include the ones on the Indonesian platform Reku and the Australian exchange GroveX. The price, which had been in the red, did not change in response to the good news.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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