Shiba Inu burning? So you can make money with SHIB Burning Portal!

One thing is for sure: there are a lot of cryptocurrencies out there.

This market is often associated with Bitcoin, rather than the increasingly popular Ethereum and Dogecoin, but the sector has many candidates Struggling to stay afloat Overtaking competitors to reach the first places.

It’s not just about buyer approval, but about a solid and scalable project that aims to expand and become worthy of the investor’s interest.

One of the most recent examples that saw a lot of hype and then led to a stalemate is related to the digital currency Diem, formerly known as Libra, which was supposed to become Facebook’s first cryptocurrency.

In a USNews article we read about the days she was literally murdered in the crib:

Facebook CEO Mark Zuckerberg, left, testifies before the House Financial Services Committee on Capitol Hill in Washington about his plans for the new cryptocurrency Libra, Wednesday, October 23, 2019. Libra, later known as the Diem digital currency project, died and was sold His assets are banking holdings Silvergate Capital.”

It wasn’t just Facebook, or rather Meta, who had to say goodbye to the digital currency project, but many others saw each other over time, revealing themselves as mere straws.

Among the many cryptocurrencies we can mention, we have, for example: Facebookmeta coin, Lucifer Coin, Brownies Swap, Bizzcoin, Earnhub and many other clients on the list.

They fail to survive in the market, and sometimes turn out to be scams, Unlike others like Shiba InuAnd know, it’s not that weird, given that 60% of them end up giving up until the day it opens!

In an old Wired article, we can read about some studies from Boston College that are still current that more than half of the startups promoting cryptocurrency go out of business in a short time:

“Researchers analyzed the quantity and frequency of tweets from startups that launched an ico, for signs of life. The result: only 44.2% of startups will survive 120 days after the end of their initial coin launch.”

This is no small problem and shows how difficult it is to come up with a cryptocurrency like Shiba Inu. So why would one decide to destroy it, or rather burn it?

The question was answered immediately, but it is important to make some brief introductions and above all introduce the new platform designed that allows users to get rewards by destroying SHIB tokens.

Then we read on Cointelegraph about the news:

“The popular Shiba Inu (SHIB) project launched the SHIB Burn Portal to reduce the supply of tokens and allow users to passively earn rewards.”

We used to buy Shiba Inu and wait for it to increase in value to resell and earn it, but now we’re told we can only make profits by burning it forever. what does that mean?

The questions appear spontaneously, but the process is simple enough and the logic behind it is very simple.

What happens to the Shiba Inu?

In the past few weeks, not to mention the past few months in general, the cryptocurrency market has fallen dramatically.

Shiba Inu No differenceAnd But After exploiting October 2021, in which he scored the maximum, he did nothing but fall relentlessly.

Today the situation does not change. On 3/5/2022 there were widespread, perhaps marginal declines for Bitcoin and Ethereum, the two undisputed market giants, but there was growing anger like Sheba that continues its descent.

At we read about the report:

“On the contrary, some of the major AltCoins, such as Shiba Inu and DogeCoin, experienced notable losses, which averaged more than 3%.”

Something that could lead us to think is the news about the opening of a new portal that aims to incentivize the destruction of the token for reasons that some beginners might find hard to imagine.but this has been corrected.

We are mainly talking about a very simple reason that would also bring us many advantages.

Who is behind the Shiba Inu?

Behind Project Shiba, we find another unknown, such as Satoshi Nakamoto with Bitcoin.

TheThe creator of Shiba Inu used the nickname Ryoshi to identify himself, but today it remains unclear who could hide behind this invented identity.

We remember the article from Il Corriere della Sera in which it was explicitly said that childbirth was a game more than anything else:

“Shiba Inu, to be exact, is a meme-token born in August 2020 by its creator, known simply as Ryoshi, a bit for fun.”

Based on the Ethereum blockchain, it leverages the dog meme to grow its community and thus stays afloat in today’s market, capitalizing on the popularity being driven by its enthusiastic audience rather than a real project behind it.

Today, however, the birth of a platform to crack the original Shiba tokens by virtue of profit surprises us like never before. which can be obtained by completing this procedure.

The methodology has not yet been widely used, but it is gaining ground with the support of those pulling the threads of these cryptocurrencies.

What does copying cryptocurrency mean? Here’s what happens to Shiba Inu!

We are talking about a practice that can guarantee advantages, although it may not seem to be found.

“Copy Code” is nothing more than a permanent revocation of an original code that will no longer be available in this way.

Here’s how to define it on Investopedia in a simple but detailed way:

Cryptocurrency “copy” refers to the process of sending a token to an account that can only receive it. Wallet addresses used to copy cryptocurrency are called “copier” or “eater” addresses.

What happened with Shiba Inu is incredible, because thanks to the idea of ​​\u200b\u200bthe development team, it is now possible to use the SHIB Burning Portal to destroy and earn tokens, even obtaining passive income.

Here’s the official tweet from a few days ago:

In practice, the tokens are transferred to a specific address provided by the gateway, i.e. a wallet from which they cannot be redeemed. Once a token is sent to this address, he will never be able to see the light again.

It may sound strange, but the reason for this seemingly useless practice is quickly explained.

Benefits of Burning Shiba Inu with SHIB Burning Portal: Passive Income Coming!

It takes teams of experienced developers to create realities like blockchains or manage successful projects based on them, with Shiba Inu it doesn’t make any difference.

One of the reasons for burning tokens with SHIB Burning Portal is to reduce the amount traded, which favors a substantial increase in value. also agrees to identify the incineration of Shiba Inu as one of the last concerns for investors:

“Burning, as it is known, is an element of great importance to investors, as it will reduce the amount of SHIB traded, leading to the usual upward pressures that accompany this type of event.”

But it does not end there, and if we analyze what those who launched the initiative have said, we will discover much more.

Users who decide to burn their SHIB tokens receive another token called burntSHIB, which pays out rewards in RYOSHI tokens at a variable rate.

The developers continue to assure that 0.49% of all RYOSHI transactions will be distributed to the owners of the burning SHIB tokens, generating real passive income.

How many Sheba burned?

Since October 2021, many Shiba Inu symbols have been burned, but after the birth of the gate, the numbers are staggering.

The success of the portal is beyond doubt if we consider that in the first 24 hours about 8 billion coins were burned at an amazing speed.

For the time being then, After the launch of the SHIB Burning Portal on April 23, 2022, more than 20 billion Shiba Inu coins were disposed of, valued at nearly half a million dollars!

Looking back then, the CEO of Bigger Entertainment, Since October 2021, says Stephen Cooper, 263 billion tokens have been “burned”, which is the equivalent of several million who was chosen to set it on fire.

On the other hand, the demand for Shiba Inu is there, but the quantity in circulation is too large to make a significant increase in value possible, so this seems to be the best way to solve the problem and many seem to share it.

Shebaa Inu 2022 predictions after the “burning symbol”?

We have seen that burning token is a practice that has different reasons for its existence and not just the team behind the cryptocurrency in question.

InvestorsActually, They can earn by burning Shiba Inu and at the same time see more opportunity to increase the token due to less availability in the market.

However, Shiba Inu price is currently fluctuating around $0.00002013 and it appears that there is no particular bullish trend after the mass burn.But the experts are waiting.

As FX Empire explains, one can expect a major rebound, especially now:

“The resistance at $0.00003 and more than that, $0.0000033 is still a long way off, but in May 2022 such a big bounce cannot be ruled out.”

Many novice traders believe that a bounce is imminent, but it is not at all certain, rather it may pass some time and explode suddenly. We must wait.

On the other hand, let’s not forget that the dog meme was surprising for its totally unexpected success. Who knows that it does not surprise us again by exploiting the rewards and profits of those users who will “finish” for profit in the future.

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