K9 Finance

Shiba Inu

Bold

Elon Musk

<ul> 
 <li>Vitalik Buterin burned 410 trillion SHIB tokens in May 2021, removing over $6 billion worth from circulation.</li> 
 <li>K9 Finance plans to burn 410 million KNINE tokens on May 31 to reduce supply and potentially increase token value.</li> 
 <li>The SHIB community commemorates Buterin’s burn, which led to a significant rise in SHIB’s value five months later.</li> 
</ul> 
<p>K9 Finance plans to burn 410 million KNINE tokens on Friday, May 31 in commemoration of Vitalik’s <a href="https://shibatoken.com/" target="_blank" rel="noreferrer noopener nofollow">Shibtoken</a> burn. This action is aimed to raise the value of the token by lowering its supply while also paying homage to Buterin’s significant SHIB burn.</p> 
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   <p lang="en" dir="ltr">3 years ago, Ryoshi burned <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> to <a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw">@VitalikButerin</a> a move that etched the <a href="https://twitter.com/hashtag/Shibarmy?src=hash&amp;ref_src=twsrc%5Etfw">#Shibarmy</a> in history! Now, our partners <a href="https://twitter.com/K9finance?ref_src=twsrc%5Etfw">@K9finance</a> pay homage with a 410M <a href="https://twitter.com/search?q=%24KNINE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$KNINE</a> burn on May 31st! The legacy of burns continues! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/TY4yt1R2Oq">https://t.co/TY4yt1R2Oq</a></p>— Shib (@Shibtoken) <a href="https://twitter.com/Shibtoken/status/1795867322378276959?ref_src=twsrc%5Etfw">May 29, 2024</a>
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<p>K9 Finance intends to develop <a href="https://coinmarketcap.com/currencies/k9-finance/" target="_blank" rel="noreferrer noopener nofollow">KNINE</a> as a deflationary token, hence it is burning these tokens. This means that current holders will gain from the rising value of the remaining tokens as the supply declines. This tactic reflects the effect Buterin’s SHIB burn had on the value of the Shiba Inu token, which five months after the burn hit a record high.</p> 
<p>Apart from recognizing Buterin’s service to the SHIB community, the burn emphasizes the significance of calculated token burning in the cryptocurrency market. More scarcity brought on by these burns frequently translates into higher token value. K9 Finance is not only honouring Buterin but also establishing a standard for other cryptocurrency initiatives.</p> 
<p>By burning 410 million KNINE tokens, they are clearly declaring their dedication to the <a href="https://cryptonewsland.com/k9-finance-enhances-shiba-inu-ecosystem-with-new-governance-proposals/" target="_blank" rel="noreferrer noopener">project’s long-term viability</a>. Investors and other cryptocurrency enthusiasts are paying attention to see how this will affect KNINE’s market performance.</p> 
<p>The timing of the burn is also notable. It is occurring during a period of intense market volatility. <a href="https://cryptonewsland.com/shiba-inus-liquid-staking-partner-knine-secures-another-bullish-listing-major-shib-pump-ahead/" target="_blank" rel="noreferrer noopener">K9 Finance is setting itself up to profit</a> by lowering the amount of KNINE tokens available. The value of the token may rise even higher as a result of this action hence drawing in additional investors.</p> 
<p>The conduct of K9 Finance emphasizes a developing trend in the cryptocurrency space where crypto companies deliberately control the supply of their tokens to increase their market value. It is expected that more will follow suit in order to benefit from the advantages of strategic token burns.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/shiba-inus-liquid-staking-partner-knine-secures-another-bullish-listing-major-shib-pump-ahead/">Shiba Inu’s Liquid Staking Partner KNINE Secures Another Bullish Listing, Major SHIB Pump Ahead?</a></li>
 <li><a href="https://cryptonewsland.com/k9-finance-enhances-shiba-inu-ecosystem-with-new-governance-proposals/">K9 Finance Enhances Shiba Inu Ecosystem with New Governance Proposals</a></li>
 <li><a href="https://cryptonewsland.com/elon-musks-xai-raises-6b-in-series-b-valuation-hits-24b/">Elon Musk’s xAI Raises $6B in Series B, Valuation Hits $24B</a></li>
 <li><a href="https://cryptonewsland.com/k9-finance-shares-development-update-on-mobile-version-of-bone-crusher/">K9 Finance Shares Development Update on Mobile Version of ‘Bone Crusher’</a></li>
 <li><a href="https://cryptonewsland.com/elon-musk-and-buterin-honor-doge-icon-kabosus-legacy/">Elon Musk and Buterin Honor DOGE Icon&nbsp;Kabosu’s&nbsp;Legacy</a></li>
</ul> 
<p>The post <a href="https://cryptonewsland.com/from-1b-charity-to-6b-burn-k9-finance-honors-vitaliks-legacy-with-a-bold-move/">From $1B Charity to $6B Burn: K9 Finance Honors Vitalik’s Legacy with a Bold Move</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

From $1B Charity to $6B Burn: K9 Finance Honors Vitalik’s Legacy with a Bold Move

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