A Shiba Inu Believer Has Burned More Than 4.7 Billion SHIB Since Last Year

Shib Superstore, an active member of the Shiba Inu community who has been burning SHIB since last year, intends to burn more tokens than in July. Furthermore, he claimed to have burned nearly 5 billion SHIB in total.

A Shiba Inu Believer Has Burned More Than 4.7 Billion SHIB Since Last Year 3

Travis Johnson stated that August has been more successful than July in collecting SHIB to be burned. According to the chart posted in the last tweet, $1,000 worth of Shiba Inu was burned in the previous month.

On August 12, Travis wrote that he was “just about the halfway point of last month” by now. Another significant milestone mentioned in the tweet is that this platform’s total amount of canine tokens burned has surpassed $60,000. That is equal to 4,734,648,653 SHIB.

Johnson drew the attention of the Shiba Inu community a week ago with a tweet claiming to know how 1.3 billion SHIB could be simply removed from circulation daily. The game developer said that it was possible with the help of his website’s entire arsenal of tools – mainly, it contains several mobile games that general advertising income is used to burn SHIB.

A Shiba Inu Believer Has Burned More Than 4.7 Billion SHIB Since Last Year 4

However, the current process for burning SHIB tokens appears inefficient since just 30 million SHIB were burned in the last two days, representing 0.0005% of the token’s circulating supply. Furthermore, roughly 10% of the supply is concentrated in the hands of the top 100 Ethereum wallets, and these whales appear unwilling to part with their SHIB in order to burn them.

In addition, as CoinCu reported, the Shiba Inu Burn Rate increased by 824% last week, with 711 million SHIB in total burned.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.