Shiba Inu Marketing Lead Announces Massive 85 Million SHIB Rewards For Stakers


Lucie, Shiba Inu’s marketing lead, announced in a social media post a potential opportunity for members of the community to earn on their holdings. The marketing lead announced on X (formerly Twitter), the distribution of 2 LEASH and 85,000,000 SHIB tokens for participants on ShibaPunkz.art. if you are #Shibapunkz

STAKING DAPP HAS BEEN UPDATED https://t.co/MZX96866xz

2 $LEASH & 85,000,000 $SHIB

WILL BE DISTRIBUTED IN THE NEXT 4 MONTHS! pic.twitter.com/mMSHS0I2xC

— ???????????????????? | Shibarium ⛓️ (@LucieSHIB) January 5, 2024

This exciting new rewards program has been met with open hands from community members, considering SHIB and LEASH are more established tokens in the ecosystem.

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SHIB market cap currently at $5.5 billion. Chart: TradingView.com

Potential Surge In SHIB Burn

According to data from the burn tracking website Shibburn, over 76 billion SHIB tokens were sent to dead wallets in 2023. The most burn activity came in December after the Shibarium layer-2 network gained the capability to participate in token burns. 

SHIB burns in December reached over 35 billion SHIB, with the Shiba Inu team burning 8 billion tokens four different times in the month. Despite the huge burn number, the yearly burn rate dropped 8.33% in 2023, as 2022 saw the destruction of more than 83 billion SHIB tokens.

SHIB burns are meant to reduce the amount of SHIB in circulation, thereby artificially increasing the price of tokens left in circulation. However, some members of the community have voiced dissatisfaction about the burn rate failing to put a dent in the trillions of SHIB tokens still in circulation.

The amount of SHIB burned is expected to increase in 2024, with a member of the Shiba Inu development team recently teasing a burn of 9.25 trillion SHIB tokens this month.   

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Featured image from Pixabay

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Author: Scott Matherson


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