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Shytoshi Kusama’s latest initiative, a vote among Shiba Inu members, saw the SHIB burn option unexpectedly rejected, shifting community focus to other strategies.
Shytoshi Kusama Calls for Community Vote
According to U.Today, on August 31st, the enigmatic SHIB army leader Shytoshi Kusama tweeted an appeal to the Shiba Inu community to decide how to allocate the Ethereum tokens supplied by Shiba Inu partner Welly's fast food restaurant.
A single vote from the SHIB army is required in this DAO election. The first one specifies that the 37.5 ETH in issue must be sent to a multisig wallet that is accessible to multiple prominent SHIB members, such as Shytoshi Kusama and Kaal Dhairya, a main developer for SHIB.
The alternative would have been to turn these Ethereum tokens, which are valued little under $100,000 in fiat currency, into SHIB coins and then burn them.
Community Decides Against SHIB Burn
Even though there were more possibilities, the community only voted for the top two, with a significantly higher number of voters for choice 1. So, it appears that the Shiba Inu burn option, which was choice 2 on the voting list, was rejected by the SHIB community.
Despite passing up the chance to destroy around $100,000 SHIB in value, the SHIB army is still moving Shiba Inu meme coins to "inferno" wallets.
SHIB Burn Rate Jumps 25% in 24 Hours
Data from the Shibburn data tracking platform shows that the daily SHIB burn rate increased by over 25% in the past 24 hours. But this time around, just a little sum of SHIB—just over 1.5 million meme coins, or $20.4 as of this writing—was moved and stored in unspendable blockchain addresses.
Since yesterday morning, the biggest burn transaction has transported 1,000,000 SHIB.
SHIB Community Accelerates Burn Efforts
Nonetheless, the weekly burn rate has greatly improved matters. The community has successfully sold 390,368,556 SHIB in the last seven days. The result is a weekly burn rate that is 241.66 percent higher.
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