Another 75.8 Million Shiba Inu Tokens Got Burn As The Price of The Famous Meme Coins Plunges 27%

Shiba Inu falls over 30%, as the community continues to burn SHIB tokens.

The Twitter account @shibburn announced that another huge amount of Shiba Inu tokens have been eliminated from circulation by “burning” — 75,828,000 tokens – in the last twenty-four hours.

Despite the great sum in cryptocurrencies, it is only worth $1,448 in USD. Thirteen transactions were used to complete the burn (transfer to an unspendable wallet).

The initial supply of Shiba Inu was staggeringly large: one quadrillion. Now, 41.03014% of it has been destroyed.

The same Twitter user then alleged that another million SHIB was delivered to the deceased wallet.

However, this does not assist the coin’s price to reclaim and beat its all-time high of  set $0.00008845 in October.

At publication time, the token was down roughly 30%, trading at $0.000019. The coin has also fallen to 16th place on CoinMarketCap.

Overall, as previously reported, more than 2.5 billion Shiba Inu have been burnt since December 1, with over 428 million SHIB burned over the weekend.  Shiba Inu engineers are also working on new ways to pull these meme currency out of circulation, according to a notable SHIB community member, Steven Cooper, whose business actively participates in burning SHIB during frequent burn parties.

On January 20, the total number of SHIB holders reached a new high of 1,150,173.

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Patrick

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