The Shiba Inu team has introduced the fourth installment of The Shib Magazine, accompanied by a giveaway of 7,000 NFT covers for fortunate recipients. The announcement followed a mysterious message from Meme Coin’s official X account, featuring the word “progression,” a newspaper emoji, and a forward arrow sign with the term “soon.” Leveraging the excitement around digital collectibles, the SHIB team strategically revealed NFT cover giveaways for previous magazine editions.
This strategic move is evident as the community swiftly minted 5,000 NFT covers in just five hours during the last edition, prompting an increase to 7,000 for the latest release. Even those who missed the initial giveaways can still join the current event, with NFT distribution on a first-come, first-served basis.
As recently highlighted by TronWeekly, The Shib Magazine is a weekly publication designed to cater to the curiosity of enthusiasts and pioneers. Described as more than a typical read, it serves as a gateway to unexplored realms of innovation, providing unique insights, cutting-edge thought leadership, and captivating content to ignite readers’ imaginations. During the launch, the SHIB team rewarded the first 1000 subscribers with an exclusive complimentary NFT of the magazine cover, making the debut a memorable event.
Shiba Inu’s Dream NFT Erupts
In a significant move, the Shiba Inu Dream NFT has burned approximately 550 million Shiba Inu tokens this month, directing them to a non-recoverable wallet. Recent data indicates that over the past two weeks, half a million SHIB tokens were removed from circulation within Shibarium, marking the highest token burns observed in November. These burns were initiated through third-party SHIB Dream NFTs, operating on the Shibarium layer-2 solution and providing practical applications within the network.
A spokesperson from the Shiba Inu team praised the burning initiative, underscoring its favorable influence on shrinking the overall SHIB token supply. Over the course of this year, numerous third-party applications and initiatives have consistently participated in SHIB token burns on the Shibarium L2 network. This continuous engagement not only upholds Shibarium’s network health but also generates transaction fees, concurrently advancing the objectives of token-burning initiatives.