- Shiba Inu enthusiasts can now earn substantial rewards, including 85 million SHIB coins, through staking on the ShibaPunkz.art decentralized application.
- The Shiba Inu community’s staking frenzy coincides with a significant drop in the SHIB burn rate, adding intrigue to the overall narrative of Shiba Inu’s evolving market dynamics.
Cryptocurrency enthusiasts and Shiba Inu supporters are in for a treat as the ShibaPunkz dApp announces an exciting opportunity to earn significant rewards. Shiba Inu’s marketing lead, Lucie, recently took to Twitter/X to share a glimpse of what the SHIB army can expect in terms of passive income.
Staking Revolution on ShibaPunkz.art
Lucie revealed that the ShibaPunkz dApp for staking has undergone a crucial update, paving the way for substantial rewards for the community. Stakers engaging with the platform will not only receive 2 LEASH tokens but also an astounding 85 million SHIB coins over the next four months.
ShibaPunkz.art serves as a decentralized application where users can stake Shiba Inu-themed NFTs from the ShibaPunkz NFT collection, initially launched on the Shibarium blockchain.
The dApp’s official token, SPUNK, has been a popular choice for stakers seeking rewards within the platform. However, Lucie’s announcement adds a new dimension to the staking experience by introducing SHIB and LEASH tokens as additional rewards. Staking has become a prevalent method in the cryptocurrency industry for earning passive income, allowing users to lock their cryptocurrencies for a specified period and receive rewards in return.
While the Shiba Inu community celebrates this potential windfall, recent data from the Shibburn tracker indicates a significant drop in the SHIB burn rate. Over the last 24 hours, the community managed to burn only 2,465,619 SHIB meme coins, leading to a 52.62% decrease in the overall burn rate. The burn transactions included a variety of amounts, with the largest transfer directing 1,571,812 SHIB to a dead-end blockchain address.
This decline in the burn rate follows a remarkable surge of 2,274% on a victorious Friday. The Shiba Inu community’s commitment to burning SHIB coins has been a crucial strategy to decrease the circulating supply, potentially impacting the token’s value positively.
As the SHIB army eagerly awaits the upcoming staking rewards on ShibaPunkz.art, the community’s efforts to manage the burn rate will likely be under scrutiny. The intersection of staking incentives and burn rate dynamics creates an intriguing narrative for Shiba Inu enthusiasts, offering both immediate rewards and long-term considerations for the popular meme coin. Stay tuned for more updates on this evolving crypto saga!
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