• Tue. May 28th, 2024

Amazon’s SHIB Burner is Still Working

Hassan Mehmood

ByHassan Mehmood

Aug 21, 2022

For any cryptocurrency to leave its mark on the crypto world and to see its price momentum increase by many folds, it is important to develop a sense of supply and demand. If the supply is over the top, but demand is only limited, then the price action is not going to get any better, and that is for a fact.

Shiba Inu, the meme-based cryptocurrency, has been struggling recently in terms of its price keeping up with the action of the crypto market, and for that reason, the developers all came around to the conclusion that they need to burn the excessive SHIB tokens to gain some favour from the price momentum of the crypto market because demand would definitely go high if the supply was only limited.

The online store of SHIB, run by Travis Johnson, has come up with a new tweet in which he seems to be praising the efforts that the SHIB team is putting into the burning of the tokens.

And in an official capacity, he also did say that they have burned SHIB, accounting for more than $1351 for the time being, but that is only the beginning, and they have a much more tenacious target in mind, which they would have to achieve if they ever want to see the price momentum of the cryptocurrency soaring high and picking up with the demand that is being created out there.

SHIB’s Burning is Stronger and More Consistent than Ever

Amazon’s affiliate program and the overall technology that the e-commerce giant does have has enabled SHIB to be burned properly rather than in a non-consistent fashion.

He further cleared down that the present burn rate for the cryptocurrency is almost 30% more as compared to the month of July, and the affiliate program of Amazon has allowed Travis to earn about $14 in total, which would be used to buy more SHIB in the coming weeks and will be redirected towards the burning of the tokens via Amazon affiliate program.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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