Shiba Inu marketing lead, Lucie has made a cryptic announcement to the SHIB community, indicating that something “special” was set to happen and highlighting the potential for more SHIB token burns.

Exciting Surprise Ahead For Shiba Inu

In a recent X (formerly Twitter) post, Lucie teased about a significant surprise set to begin within the Shiba Inu ecosystem. While she neglected considerable details about this special event, Lucie disclosed that she was working closely with Shibacals Collaboration Studio to make the exciting surprise occur. 

Shibacals is a studio that produces and delivers quality merchandise and authenticates collectibles for global Web3 corporations. Considering the studio’s services, it is feasible that Lucie’s special news may involve utilizing Shibacal’s merchandise to facilitate token burns. 

In her post, Lucie also urged Shiba Inu community members to prepare for a considerable SHIB burn. While she didn’t explain exactly how the Shiba Inu team plans to burn SHIB tokens in collaboration with Shibacals, a large-scale burn will grossly reduce the numerous supply of Shiba Inu tokens.

A token burn is a process executed to permanently remove a selected variety of tokens from circulation. This is generally achieved by sending tokens to a singular address called a burn address or a dead wallet. Token burns are sometimes performed to significantly reduce the availability of a cryptocurrency, inducing scarcity and potentially resulting in an increase in its value. 

Despite withholding information on the upcoming surprise, many Shiba Inu community members took the marketing lead’s teasing in good form. A couple of members have inquired concerning the amount of SHIB tokens the marketing team intends to burn. Others have shown their enthusiasm for the approaching burn, suggesting their readiness for the event. 

SHIB Burn Momentum Continues In July

Lucie’s hint at an impending SHIB burn comes as great news to the community, poised so as to add to the substantial amount of tokens burnt this July. Reports from Shibburn, a Shiba Inu token burn tracker, have revealed that unidentified users have burnt a staggering 290,434,205 SHIB. Shibburn disclosed that the tokens were sent to a dead wallet and conducted in a single transaction.

The cumulative SHIB burn rate is up by 8,596.57%, pushing the whole SHIB tokens burnt from its initial supply to over 410.7 trillion SHIB. Shiba Inu’s maximum total supply is about 999 trillion tokens, nonetheless now its circulating supply has dropped all the way down to roughly 589.2 trillion. 

In June, over 918 million SHIB, value about $15,901 at the present exchange rate, were burnt across 237 transactions. This momentum has poured into July, as Shibburn continues to record multiple day by day token burns. 

Featured image created with Dall.E, chart from Tradingview.com