{"id":564868,"date":"2023-12-11T21:00:42","date_gmt":"2023-12-11T21:00:42","guid":{"rendered":"https:\/\/www.wncen.com\/?p=564868"},"modified":"2024-06-11T07:28:28","modified_gmt":"2024-06-11T07:28:28","slug":"shiba-inu-vs-lunc-burn","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/shiba-inu-vs-lunc-burn\/","title":{"rendered":"Shiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?"},"content":{"rendered":"

Both the Shiba Inu and the LUNC tokens<\/a> have seen their growth hindered by the fact that their circulating supply is incredibly large. As a way to curb this, both communities have come up with a burn initiative to reduce the supply of the tokens as much as possible. So far, there have been significant amounts of tokens sent to burn addresses by members of the community. But which community\u2019s effort has had the best impact on the token price?<\/p>\n

LUNC Community Hits 85 Billion Mark<\/h2>\n

The LUNC community burn has gained a lot of traction since it began around a year ago. Every week, millions of tokens are being taken out of circulation in an effort to reduce its over 5.8 trillion supply. This has resulted in tens of billions of tokens being burned so far.<\/p>\n

According to the LUNC Metrics website<\/a>, the community has been able to hit the 85 billion tokens burned milestone. This was hit after over 1.7 billion tokens were burned by the community in a single-week timeframe, bringing the total all-time token burned to approximately 85 billion.<\/p>\n

On the back of this milestone, the prices of LUNC and USTC<\/a> have begun to rally once more, suggesting a correlation between the burn and the price performance. Not only the Terra Classic ecosystem tokens are rallying but also the rebranded LUNA token has been on the rise.<\/p>\n

The LUNC burn initiative has seen a lot of support from the Binance exchange<\/a> which continues to burn fees generated from the altcoin\u2019s trading activity. Burning has also extended to the USTC token which sees thousands of coins burned daily.<\/p>\n

\"Shiba<\/p>\n

SHIB bulls show strength | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Shiba Inu Burn Sees 2875% Explosion<\/h2>\n
Compared to the LUNC burn<\/a>, the Shiba Inu community burn has had more impact on the price. Unlike LUNC, around 45% of the total token supply has been burned. Most of this can be attributed to Ethereum founder Vitalik Buterin who received half of the SHIB token supply in 2021. Buterin eventually burned the majority of the tokens<\/a> after donating some of it to a COVID relief fund.<\/p>\n
The community has, however, not relented in its efforts to reduce the supply. Last week, the burn rate saw one of the most significant spikes after rising over 7.6 million percent in a 24-hour period. This increased burn momentum has continued into the new week with Sunday\u2019s figures coming in over 152 million tokens burned.<\/p>\n
This 152 million figure saw the SHIB burn rate<\/a> rise another 2875%, data<\/a> from Shibburn shows, starting the week off on a high note. The majority of the burned tokens<\/a> came from a single wallet which incinerated 107.6 million tokens in a single transaction.<\/p>\n
However, unlike LUNC, the spike in the SHIB burn rate<\/a> hasn\u2019t seemed to have affected the price much with the token trading at near breakeven for the same time period.<\/p>\n
Featured image from Analytics Insight, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Both the Shiba Inu and the LUNC tokens have seen their growth hindered by the fact that their circulating supply is incredibly large. As a way to curb this, both communities have come up with a burn initiative to reduce the supply of the tokens as much as possible. So far, there have been significant amounts of tokens sent to burn addresses by members of the community. But which community\u2019s effort has had the best impact on the token price? LUNC Community Hits 85 Billion Mark The LUNC community burn has gained a lot of traction since it began around a year ago. Every week, millions of tokens are being taken out of circulation in an effort to reduce its over 5.8 trillion supply. This has resulted in tens of billions of tokens being burned so far. According to the LUNC Metrics website, the community has been able to hit the 85 billion tokens burned milestone. This was hit after over 1.7 billion tokens were burned by the community in a single-week timeframe, bringing the total all-time token burned to approximately 85 billion. On the back of this milestone, the prices of LUNC and USTC have begun to rally once more, suggesting a correlation between the burn and the price performance. Not only the Terra Classic ecosystem tokens are rallying but also the rebranded LUNA token has been on the rise. The LUNC burn initiative has seen a lot of support from the Binance exchange which continues to burn fees generated from the altcoin\u2019s trading activity. Burning has also extended to the USTC token which sees thousands of coins burned daily. SHIB bulls show strength | Source: SHIBUSD on Tradingview.com Shiba Inu Burn Sees 2875% Explosion Compared to the LUNC burn, the Shiba Inu community burn has had more impact on the price. Unlike LUNC, around 45% of the total token supply has been burned. Most of this can be attributed to Ethereum founder Vitalik Buterin who received half of the SHIB token supply in 2021. Buterin eventually burned the majority of the tokens after donating some of it to a COVID relief fund. The community has, however, not relented in its efforts to reduce the supply. Last week, the burn rate saw one of the most significant spikes after rising over 7.6 million percent in a 24-hour period. This increased burn momentum has continued into the new week with Sunday\u2019s figures coming in over 152 million tokens burned. This 152 million figure saw the SHIB burn rate rise another 2875%, data from Shibburn shows, starting the week off on a high note. The majority of the burned tokens came from a single wallet which incinerated 107.6 million tokens in a single transaction. However, unlike LUNC, the spike in the SHIB burn rate hasn\u2019t seemed to have affected the price much with the token trading at near breakeven for the same time period. Featured image from Analytics Insight, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":564879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,89012,83740,92559],"tags":[86067,87315,90558,86792,86977,86796,83668,86002,89178,83667,89157,86437],"class_list":["post-564868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-terra-classic-lunc","category-shiba-inu","category-shiba-inu-coin","tag-lunc","tag-lunc-burn","tag-lunc-news","tag-lunc-price","tag-luncusd","tag-luncusdt","tag-shib","tag-shib-burn","tag-shib-news","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price"],"acf":[],"yoast_head":"\nShiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?<\/title>\n<meta name=\"description\" content=\"Both the Shiba Inu and the LUNC 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/www.wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?","url":"http:\/\/www.wncen.com\/news\/shiba-inu-vs-lunc-burn\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/shiba-inu-vs-lunc-burn\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-vs-LUNC-Small.jpeg?resize=200%2C178","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-vs-LUNC-Small.jpeg?fit=320%2C178"},"articleSection":"LUNC","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["lunc","lunc burn","lunc news","lunc price","luncusd","luncusdt","shib","shib burn","shib news","shiba inu","shiba inu news","shiba inu price"],"dateCreated":"2023-12-11T21:00:42Z","datePublished":"2023-12-11T21:00:42Z","dateModified":"2024-06-11T07:28:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/shiba-inu-vs-lunc-burn\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/shiba-inu-vs-lunc-burn\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Shiba-Inu-vs-LUNC-Small.jpeg?resize=200%2C178\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Shiba-Inu-vs-LUNC-Small.jpeg?fit=320%2C178\"},\"articleSection\":\"LUNC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"lunc\",\"lunc burn\",\"lunc news\",\"lunc price\",\"luncusd\",\"luncusdt\",\"shib\",\"shib burn\",\"shib news\",\"shiba inu\",\"shiba inu news\",\"shiba inu price\"],\"dateCreated\":\"2023-12-11T21:00:42Z\",\"datePublished\":\"2023-12-11T21:00:42Z\",\"dateModified\":\"2024-06-11T07:28:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-vs-LUNC-Small.jpeg?fit=320%2C178","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/564868"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=564868"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/564868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/564879"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=564868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=564868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=564868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}