Large rise in Shiba Inu burns has coincided with significant SHIB price surge
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As 2024 began, the SHIB team started testing a new automated mechanism for burning SHIB tokens on the Shibarium testnet. While doing that, the developers burned several tens of billions of SHIB thanks to the saved up gas fees. Transaction fees on Shibarium are paid in BONE and then part of them gets converted into SHIB to be sent to unspendable wallets for good.
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