The popular meme coin Shiba Inu has witnessed significant developments in the last 24 hours. At the beginning of these developments is the large amount of a crypto money exchange. Let’s examine together the important developments that the leading meme coin has experienced in the last day.
Shiba Inu governance token BONE rises
Singapore-based cryptocurrency exchange has acquired 333,113 BONE tokens in the last 24 hours. The purchase was completed by transferring tokens to the MEXC wallet in 23 separate transactions. After the last purchase of the stock market, the amount of BONE it kept reached 10.33 million. Accordingly, the dollar equivalent of BONE tokens in MEXC was 4.75 million. However, the exchange, interestingly, has not been selling tokens to any of its users for the last 2 months. However, Bone ShibaSwap (BONE) has been on the rise following MEXC’s acquisition. The governance token of the Shiba Inu project has gained 10% in the last 24 hours.
Binance announces SHIB promotion
As the world’s largest crypto exchange, Binance is almost always in the news for something. This time, the exchange announced a promotion to reward new users with SHIB tokens. Thus, users will gain SHIB rewards by learning about various aspects of the crypto and blockchain industry. The effort to educate people about the industry is carried out by Binance Learn and Earn, a department of the Binance exchange. Accordingly, the exchange rewards users who complete the training.
This time, Binance has reserved 45,000 SHIB tokens to give to Learn and Earn students. Users who qualify for the rewards will get the benefit of staking SHIB for 150 days. Users who lock SHIB assets will get 100% APY (Annual Percent Return). Accordingly, after 150 days expire, winners will receive close to 1.5 times the originally staked SHIB tokens.
224 million Shiba Inu went out of circulation in the last 24 hours
As we have reported as Kriptokoin.com, SHIB burning continues. Accordingly, over 229.16 million Shiba Inu (SHIB) have been taken out of circulation by the Shib Army community in the past 24 hours. The burn was directed by game developer Travis Johnson. Additionally, the final burn was shared on Twitter by the Shibburn platform. Burning of 229.16 million SHIB took place in 11 transactions.
Travis Johnson burned 52 million SHIB
Travis Johnson removed 52 million SHIB from the circulating supply. In fact, Johnson was planning to do the SHIB burning on Sunday. However, the game developer; Robinhood announced that it has postponed the burn to Tuesday due to problems with Coinbase and MetaMask. The developer did not specify what kind of trouble he had with these popular trading platforms. However, he mentioned in one of his previous tweets that he is having difficulties sending SHIB tokens through Robinhood. A total of 229.16 million SHIB burns represented an increase of 190.25% compared to the previous day.
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