Shiba Inu To Launch Visa Card To Support SHIB Burning

Shiba Inu has announced the launch of a new SHIB Visa card on July 25th, which will help users burn SHIB while making payments.

Some time ago, the Shiba Inu team announced a partnership project with Ryoshi Vision (RYOSHI) to launch the SHIB burning gate. This joint effort aims to motivate the Shiba Inu community to burn more SHIBs and earn fantastic rewards.

However, things did not go as planned, with many SHIB holders losing patience with the prolonged prize distribution process.

Several times, Shiba Inu developers have contacted Ryoshi Vision about this issue, noting that bonus flexibility is underperforming. Even so, the Shiba Inu community is not too shy, having put an impressive number of more than 110 million SHIB tokens into the burning portal in just the past 24 hours.

Shiba Inu decided to launch a SHIB Visa card specifically for coin burning to strengthen the community’s confidence after the above incident.

Although no additional information has been provided yet, according to the initial statement from the development team, the SHIB Visa card will support users to burn SHIB directly when paying at locations that accept SHIB. SHIB Visa will be the next addition to the Shiba Inu ecosystem, which can significantly speed up coin burning and reward distribution.

And it is for this reason that the burning rate of SHIB has gained substantial traction; right after plunging down more than 60% on July 25, it has recovered today and is currently growing by about 58.6% at the time of writing.

Total number of SHIB burned today. Source: Shibburn

Founder Vitalik Buterin, who was once warmly praised for his “dog sale” in 2021, commended the Shiba Inu community for providing an AI security course for talented young people around the world, clearly demonstrating the solidarity and strength of SHIB.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.