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News

Shiba Inu Investors Has Burned 272.5 Million $SHIB Since Yesterday Morning

May 17, 2022 - Around 2 mins mins to read
shiba-inu-burn

Shiba Inu Investors Has Burned 272.5 Million $SHIB Since Yesterday Morning

More than a billion Shiba Inu tokens have been burnt in the last 24+ hours, according to statistics published lately by @shibburn. Since yesterday, about 4x more SHIB has been burned in the last four hours. During a routine burn event on May 15, about 300 million Shibas were removed from circulation.

According to Shibburn, a total of 272,558,058 SHIB had been destroyed since Monday morning. Following that, further SHIB to dead wallet transfers occurred.

There were 593,261,563 and 209,610,670 Shiba Inu stashed among them, each of which was destroyed in less than an hour.

All of these coins have been moved to wallets where they can no longer be spent or withdrawn, thus “burning” is only a metaphor. This helps to lower the number of SHIB in circulation and raise the coin’s price in the future when it becomes much more rare than it is currently.

The @shib superstore Twitter account, which operates a shop selling its own mobile games and SHIB-branded items, has reported that during a routine burn event on May 15, they managed to annihilate 283 million Shiba Inu.

The shop purchases SHIB with profits from game advertising and merchandise sales. They’ve destroyed 1,981,210,929 meme tokens in total since last year.

Because the account’s owner had purchased Shiba on the dip, the burn was not as severe as it could have been.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

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Hazel

CoinCu News

News

Shiba Inu Investors Has Burned 272.5 Million $SHIB Since Yesterday Morning

shiba-inu-burn

Shiba Inu Investors Has Burned 272.5 Million $SHIB Since Yesterday Morning

More than a billion Shiba Inu tokens have been burnt in the last 24+ hours, according to statistics published lately by @shibburn. Since yesterday, about 4x more SHIB has been burned in the last four hours. During a routine burn event on May 15, about 300 million Shibas were removed from circulation.

According to Shibburn, a total of 272,558,058 SHIB had been destroyed since Monday morning. Following that, further SHIB to dead wallet transfers occurred.

There were 593,261,563 and 209,610,670 Shiba Inu stashed among them, each of which was destroyed in less than an hour.

All of these coins have been moved to wallets where they can no longer be spent or withdrawn, thus “burning” is only a metaphor. This helps to lower the number of SHIB in circulation and raise the coin’s price in the future when it becomes much more rare than it is currently.

The @shib superstore Twitter account, which operates a shop selling its own mobile games and SHIB-branded items, has reported that during a routine burn event on May 15, they managed to annihilate 283 million Shiba Inu.

The shop purchases SHIB with profits from game advertising and merchandise sales. They’ve destroyed 1,981,210,929 meme tokens in total since last year.

Because the account’s owner had purchased Shiba on the dip, the burn was not as severe as it could have been.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

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