CoinEfficiency

Shiba Inu (SHIB) Updates: Game Launch, Burn Rate, and Price Movements

Discover the latest developments in the Shiba Inu ecosystem, including the Shiba Eternity game launch, increased burn rates, and SHIB's price performance.
Published on 2022-09-19

Shiba Eternity Game Launches in Australia

The Shiba Eternity card game officially launched in Australia, currently available on iOS, with an Android version expected soon. This blockchain-based game, developed in collaboration with PlaySide Studios, is anticipated to integrate SHIB burning mechanisms, offering new ways for the Shib Army to contribute to reducing the token's supply.

SHIB Burn Rate Surges

The Shiba Inu burn rate has seen significant growth, with over $61 million worth of SHIB burned in the past week alone. This represents a 42% increase in the burn rate compared to previous periods. Despite these efforts, SHIB's price has remained under pressure, highlighting the challenges of supply and demand dynamics in the cryptocurrency market.

New Burning Avenues

Shytoshi Kusama, a pseudonymous developer, has announced additional SHIB burning methods tied to the Shiba Eternity game. These initiatives aim to incentivize further token burns, potentially boosting SHIB's market value. The upcoming SB Visa card will also introduce auto-burning features, allowing SHIB holders to automatically burn tokens with every transaction.

SHIB Price Performance

At the time of writing, SHIB trades at $0.00001076, reflecting an 8.5% decline over the past 24 hours and a 16.2% drop over the last two weeks. However, SHIB remains up 37% year-to-date, according to CoinGecko. The token continues to face bearish pressure despite ongoing burn initiatives.

Community Initiatives and Partnerships

The Shiba Inu community is expanding beyond cryptocurrency with the upcoming launch of a clothing line in collaboration with John Richmond and CHAMPION. These partnerships highlight SHIB's growing influence in popular culture, offering fans a way to engage with the brand beyond trading.

Why This Matters

While the increased burn rate and new initiatives show promise, SHIB's price has yet to respond significantly. Investors should monitor these developments closely, as consistent burning mechanisms could play a crucial role in shaping SHIB's long-term value. Stay updated on the latest news about Shiba Inu and other leading meme coins.

What is Coinefficiency?

Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.

Why Use Coinefficiency?

  • Advanced market analytics to identify trading opportunities.
  • Compare markets relative performance.
  • Understand market cycles over time. See market levels.
  • Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.

With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.

Get Started with Coinefficiency

Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.