Shiba Inu (SHIB) becomes one of the most profitable crypto assets in 7 days
Shiba Inu (SHIB) is among the top three most profitable crypto assets in the last seven days. As of August 18, SHIB has added 20% to its price in a week, second only to Chiliz (CHZ) and Ankr (ANKR), whose growth was driven by big news like Binance Labs investments.
Shiba Inu (SHIB) Achieves Top 3 Spot Among Most Profitable Assets of Week, DOGE Takes 5th Place
Shiba Inu is followed in the ranking by the notorious crypto lending project Celsius, the quotations of which, like a roller coaster, are growing as fast as falling. Nevertheless, the price of Celsius managed to stay in the green zone and even show growth of 18% at the end of a turbulent seven days. DOGE days Dogecoin (DOGE) has closed in the top five most profitable cryptocurrencies for the last seven days. The already legendary coin shows a growth of 13.13% over the period under review, which is 7% lower than its main competitor in the sector, SHIB.
Although the reasons for the so-called “memecoin” pump are not entirely clear, it is suspected that renewed interest in DOGE among investors was triggered by the launch of the Layer 2 solution of the same name. Nevertheless, one should be extremely careful when using this service, because in late July, prominent Dogecoin enthusiasts warned the community that the original project team has nothing to do with the chain with the prefix DOGE.
The struggle between Shiba Inu and Dogecoin for a place in the top 10 ranking of the largest cryptocurrencies by capitalization continues to flow slowly. While DOGE has so far firmly held its 10th position with a capitalization of $10.76 billion, SHIB still has at least $2.5 billion to go. Meanwhile, Shiba Inu recently overtook Avalanche (AVAX) in this ranking and broke into 12th place, where Polkadot (DOT) now sits in front it.
Game dev Travis Johnson, who regularly burns Shiba Inu tokens using some of the profits from his online shop, has taken to Twitter to share that, this month so far, he has managed to burn nearly 15 million Shiba Inu via the affiliate program with Amazon. He pointed out that this burn did not cost anyone in the SHIB army any extra money out of their pockets.
Johnson tweeted that, thanks to the opportunity offered by Amazon for making profits from sales, so far in August, he has managed to remove 14,804,845 SHIB from the circulating supply, which is evaluated at $220. Since he earned this money as a commission from the affiliate program, he specified that nobody has had to spend any extra money to help burn these tokens.
So far this month we have been able to burn $220 worth of SHIB by using Amazon.
$220 that did not cost anyone in the army extra money out of pocket!
— SHIB Super Store (@shib_superstore) August 17, 2022
On Aug. 16 in particular, according to an earlier tweet, Johnson managed to earn $15, which is slightly over 1 million SHIB via the Amazon program. These meme coins will be burned on Sunday along with others bought with advertising profits from Johnson’s mobile phone games. Overall, he believes that Amazon remains strong for SHIB burns, according to a tweet posted on Wednesday. On Sunday, Aug. 14, in particular, the affiliate program of Amazon helped Johnson burn SHIB by contributing 39,555,189 coins, which were removed. Thanks to Amazon and other sources of money for buying and burning SHIB, Johnson believes he will be able to beat July in burns by 30% this month.
As per a recent tweet by another SHIB burn portal, the SHIB burn rate has exploded by a staggering 345.52% compared to yesterday. Shibburn has reported that in the past 24 hours, 64,506,471 meme coins have been burned in total via 10 transactions, which moved these SHIB to unspendable wallets.
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