Shiba Inu SHIB has gained 52% in the last seven days as the coin’s bulls prepare for the Valentine’s Day supply burn party

 Shiba Inu (SHIB) has gained 52% in the last seven days as the coin’s bulls prepare for the Valentine’s Day supply burn party.

Shiba Inu (SHIB), a decentralized, meme-inspired cryptocurrency that is attempting to generate new avenues of value for its holders, continues to profit from the broader crypto rebound, even as the coin’s bulls prepare for a big supply burn set for next week.

Shiba Inu’s SHIB currency is now trading at $0.00003311, representing a gain of more than 52 percent in the last 7 days. Following an epic rout at the start of the new year, the whole crypto market appears to have steadied, with Bitcoin leading the charge higher as usual:

#BTC is slowly approaching the 200-day EMA (black)

Flip the EMA into support and this will be an indication that long-term investor sentiment is shifting back to being bullish on Bitcoin$BTC #Crypto #Bitcoin https://t.co/1eWZOqZQmU pic.twitter.com/qtIDK1gKGL

— Rekt Capital (@rektcapital) February 8, 2022

While we remain cautiously optimistic about the possibilities of this nascent surge, Shiba Inu’s SHIB currency is benefiting from a slew of intrinsically favorable elements.

Bigger Entertainment, as previously stated (see here), is one of nine separate businesses that have vowed to burn SHIB supplies regularly. Bigger Entertainment, on the other hand, has codified its supply burn ambitions with a 2022 plan. As part of these efforts, the firm has recently introduced “SHIB Lovers’ Merch,” which will include investing 80 percent of the company’s sale revenues by Valentine’s Day in Shiba Inu’s SHIB cryptocurrency. These tokens will subsequently be burned during a special ceremony on February 14th:

#BiggerEntertainment #SHIB Lovers V-Day Burn Party #ValentinesDay #feb14th live stream on #YouTube 2pm CST
Subscribe to @biggerent channel for #music #Crypto #VIDEOS #shiba events & so much more

Plus check out #LetsBurn100k #ToTheMoon https://t.co/ycbqna36sO

— I_Am_ShibaInu (@ShibaLoyalist) February 5, 2022

Bigger Entertainment will also hold a football-themed SuperBurn event in February, as well as an NFT Madness event in March and April. Bigger Entertainment’s CEO, Steven Cooper, recently revealed, when explaining the reasoning behind these events, that the company’s goal was to pump Shiba Inu’s SHIB token to a 1-cent price, or $0.01:

Our goal isn’t for #shib holders to always burn their coins. Our goal is to spread music, YouTube vids, merch, NFT’s, etc to audiences outside of #shibarmy. This is how we reach a .01. By building an ecosystem where people are burning w/o even knowing it. Through entertainment.

— Steven Cooper (@iamstevencooper) January 30, 2022

ShibSwag, meanwhile, is another project that sells merchandise online and pledges to donate 30% of its proceeds to SHIB coin burn initiatives.

👕SHIBSWAG GRAND OPENING👕

Head on over to https://t.co/WquQq6gpXn and grab yourself some SHIB Merch!🎉

Hoodies, T-Shirts, Hats, & Bags!🧢👕🎒

30% from all purchases sent to the burns🔥

— ShibSwag © (@ShibSwag) February 1, 2022

While these activities demonstrate the liveliness of the Shiba Inu community as a whole, the possibilities of making a significant dent in the token’s total supply remain tough. After all, the SHIB currency has a circulation supply of more than 549 trillion tokens!

Meanwhile, Shiba Inu bulls are focused on Shiberse, the impending Shiba Inu metaverse platform. Furthermore, Shiba Inu Games – a completely new subsidiary – is focused on developing a video game, particularly for the Android and iOS mobile platforms. When finished, the game would be licensed to the project’s creators for use on Shibarium, the native blockchain powered by the SHIB coin. Importantly, the cash generated by the game’s in-app purchases will be used to partially burn SHIB and LEASH tokens.