Shiba Inu (SHIB) At Bear Hands Despite Ongoing “Burning Party”

Shiba Inu’s (SHIB) burning party witnessed new developments amid continued fire despite some glitches. Nevertheless, the party presented some notable features for the community.

Fire Dominates

The SHIB games portal welcomed a burning mechanism via Amazon’s affiliate link. August stats reveal that the SHIB SuperStore attained a 3-month milestone, exceeding $2K in burnt coins. Nevertheless, can it maintain the pace during this publication?

Meantime, the SHIB Super Store stayed on course to hit the previous month’s burns, whereas total token burns could be slowing during this publication. Shib Super Store administrator Travis Johnson highlighted a potential case behind the ongoing burning craze.

Meanwhile, the platform noted an impressive record, burning the highest SHIB count through Amazon’s affiliate program. The program removed over 40 million Shib Inu tokens (43.2 million $SHIB) from circulation (in October). Johnson congratulated participants due to around $70 increase from last week.

He added that the weekly burns might be 100X when everyone contributes. Also, he commented about the possibility of October’s burn amount exceeding September’s, even though we have nearly half a month to go.

The total SHIB burned was valued at $860 (84,729,064 SHIB) (at the time). Johnson added that the project was on the path to hitting last month’s figures.

Star of the Party

Besides that, the trusted Shiba Inu burn tracking platform presented some stats. The previous week saw more than 395.8 million SHIB destroyed, 50M over the last 24 hours, including 43.23M in one substantial transaction.

Also, Shibburn reported an enormous 584.46% surge in SHIB Burn volume within the past day. Moreover, holders confirmed their hope, with the count recording a much-required uptick. Coinmarketcap data shows that SHIB holders increased to 1,224,583.

That represented a 9% surge from January 3’s 1,114,483. Can that mean an opportunity for Shiba Inu holders? YES.  Nevertheless, bears have dominated trends within the past two months. The narrative prevailed during this publication.

Bears continued to underpin BTC beneath the crucial $20K level. While publishing this blog, the leading crypto changed hands at $19,592.04, gaining 1.79% over the past day. A move past $20K can support short-term uptrends. Time will tell.

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