Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
SHIB fans continue to push big sums of Shiba Inu meme crypto tokens from circulation using the technology of so-called “token burns.”
Since the beginning of last week, a total of around 2.2 billion SHIB have been incinerated. One-fourth of it was burned over the past 24+ hours alone, according to the @shibburn Twitter handle.
Twitter account @shibburn, which represents a company that burns tokens and posts information on burn transactions from etherscan to their website, has stated that between March 14 and 20, almost two billion SHIB have been moved to dead-end wallets without the chance to be spent or withdrawn ever again.
As per a tweet posted on Sunday by the aforementioned account, a total of 1,633,542,121 Shiba Inu meme coins were shifted to dead addresses by different teams and individuals who have committed to burning SHIB.
The aforementioned amount of SHIB is the equivalent of $37,979 at the current exchange rate. It took 55 transactions to burn that great amount of canine crypto.
As covered in U.Today articles last week, quite large amounts of SHIB were destroyed within a single period of 24 hours: 600.7 million and 190 million. The former burn, though, was scheduled with the burn pot prepared during the previous month.
In the last 7 days, there have been a total of 1,633,542,121 $SHIB tokens burned and 55 transactions. #shibarmy
The same Twitter account has reported that over the past 24 hours, a total of 175,109,831 SHIB tokens were removed from the circulating supply, taking 87 transfers to do that.
Also, today, already an even bigger amount of SHIB has been moved to dead wallets—392,838,690 tokens in just four big transactions.
Together, that is a comprised 567.9 million Shiba Inu.
Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.
His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.
Currently Yuri is a news writer at U.Today and can be contacted at email@example.com.
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.