Dogecoin Fire: 8

Dogecoin Fire: 8.6 Billion SHIB Tokens Burned – Price Impact Revealed! Shibarium Milestone CelebrationThe Dogecoin community is abuzz with excitement as Shibarium achieved a huge feat - burning a staggering 86,151,694,427 SHIB tokens in a single on-chain transaction on December 16, 2023. This important event marks a critical moment for Dogecoin and its thriving ecosystem. Price peaks and troughsThe impact was immediate, pushing Dogecoin to a six-month high of $0.00001165. However, the bullish frenzy was short-lived as SHIB fell back to the $0.00000960 support level on Monday. Currently trading at $0.00001002, the Dogecoin rollercoaster is hitting the critical $0.00001 resistance barrier, triggering market pressure among investors in making profit decisions. Kusama's Inspiration: The Art of Influence BurningShibarium lead developer Shytoshi Kusama reveals the key to affecting combustion. In response to the SHIB Army's call for a continuous combustion system, Kusama introduced a dual Shibarium combustion mechanism a month ago. This mechanism, combined with the switch from Goerli to Sepolia Network and the growth of global adoption, resulted in a total of 18.8 billion tokens being withdrawn from circulation. Global adoption drives combustionKusama emphasized that while the current burn is “worthy of celebration,” the real breakthroughs will coincide with adoption by global influencers. A recent 136 million transaction on Shibarium related to boxing champion Manny Pacquiao’s charity is an example of the platform’s growing adoption. What's next? Big announcements expectedAs the community looks forward to the next move, Kusama hinted at a major announcement coming next week, hinting at the possibility of another massive on-chain burn on Shibarium, Dogecoin’s proprietary Layer-2 blockchain.

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