One of the leading meme coins, Shiba Inu has gained the support of AMC entertainment and Bricks Buster mobile games to solidify its acceptance and burn more coins from circulation.
The movie chain, AMC initially plan to accept bitcoin, Dogecoin, Ethereum, and Litecoin as payment methods for tickets and concessions in the coming months. But on Monday, the founder of Gokhshtein Media, David Gokhshtein through his social media handle revealed that the CEO of AMC is working on adding SHIB to crypto payment methods. He tweeted, “Breaking: CEO of AMC working on bringing $SHIB as a payment.”
Last month, it was reported that the CEO of AMC, Adam Aron created a poll on Twitter seeking his followers’ opinion on accepting Shiba Inu as a payment method for AMC Entertainment. The poll garnered more than 150,000 votes where over 80 percent of participants voted in favour of onboarding Shib as a means of payment.
The decision may not be unconnected to the recent popularity of Shiba Inu. AMC is expected to enable crypto payment methods in the first quarter of 2022.
On the side, a mobile game app, Bricks Buster has recently been created to burn Shiba Inu coin through ad revenue. The developer of the mobile game app Travis Johnson affirmed that the mobile game app was not originally created to burn SHIB coin, however, as a strong holder of Shiba Inu, he decided to support the SHIB Army to burn coin using his game app.
According to the game developer, the mobile game burns $10 per day from Google advertising revenue. Since he first announced the idea to burn SHIB via his game, traffic for Bricks Buster surged by over 800 percent.
“If the ShibArmy really got involved, we could literally be burning thousands of dollars a day, at no cost to the ShibArmy,” Johnson said.
The developer noted that the burning of SHIB is important and will help reduce the supply of SHIB coins in circulation. He also believed that this action “will help create long-term wealth in the SHIB community”.
Johnson further acknowledges other SHIB burning projects like the SHIB Burner playlist. He said, “every burn implementation, especially those that don’t involve the army incinerating their own money, is very important and should be fully supported.
“Burning 500 trillion SHIB is going to take a long time no matter how we go about it, and it’s just a matter of consistency, and implementing as many new burn strategies as we can.”
According to Shibburn page, 410,297,362,838,474 SHIB coins have been burn Out of 1,000,000,000,000,000 SHIB Initial Supply. In the last 24 hours 25,796,282 Shiba Inu coin has been burnt.
The Shibburn page explains what happens to coins burnt and the effect on SHIB price. The page reads: “Burning tokens permanently removes them from the circulating supply, similar to the idea of a publicly-traded company buying back stock. This is done by sending your tokens to a special wallet with unobtainable private keys. The decrease in the circulating supply will eventually drive Shiba Inu’s price upward.”
At press time, Shiba Inu is trading at $0.00005355 gaining 0.90 percent in the last 24 hours with 549,095,509,738,353 SHIB in circulation.
