Shiba Inu developers have been hard at work once again and have just officially announce a new burn feature to both Shiba Inu and Leash.
The announcement caused SHIB to rally to close to 20% and reached up to $0.00000814 but has since dropped to $0.00000745.
In the a statement SHIB devs declared that there will be new pairs added on their decentralized exchange ShibaSwap and that there was going to be a coin burn.
The two pairs that will be added to ShibaSwap are Perlin and Ryoshi which are two new ETH-fueled trading pools.
Trending: Hong Kong Is Cracking Down On Crypto
The addition of two new pools, PERLIN (PERL-ETH), and RYOSHI (RYO-ETH). Both will have 20 AP.$PERLIN has burned $25,000 in both, $SHIB and $LEASH, and has offered their native tokens as bi-weekly rewards as well, including Woofable $Bone. pic.twitter.com/d6DAH1qe0p
— Shib (@Shibtoken) August 7, 2021
Yahoo News covered the big news and shared these details:
Meme token Shiba Inu continues to build out its ecosystem, and investors have been waiting to see when the price of the cryptocurrency will reflect these ambitions. On Sunday, the Shiba Inu price gave investors what they were looking for by rallying nearly 20%.
The Shiba Inu price may have received a nudge from the project’s developer team. Shib developers announced a two-pronged strategy that appears to have set the rally in motion, including the addition of new pairs on decentralized exchange (DEX) ShibaSwap and a coin burn.
The developers appear to have expanded their “new listings plans” to include a coin burn of two major coins in the ecosystem, Shiba Inu (SHIB) and Leash (LEASH). This includes the addition of two new ETH-fueled trading pools on ShibaSwap Perlin (PERL-ETH) and Ryoshi (RYO-ETH).
The addition of these two pools coincides with a USD 25K coin burn for SHIB and a USD 25K coin burn for LEASH tokens.
This part at the beginning made me happy
"Shiba Inu continues to build out its ecosystem"
The press is aware of what we are doing! https://t.co/Jamhvdnwyj
— SHIB INFORMER (@ShibInformer) August 8, 2021
If you would like to learn more about SHIB’s news burn feature check out this video below:
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