DailyCoin
Published Jan 17, 2022 05:26AM ET
Shiba Inu Coin Burn Goes On: 134M SHIB Removed
Shiba Inu continues reducing the supply of SHIB tokens. The prominent meme coin removed another 134 million SHIBs out of circulation within the past 24 hours.
As stated by Shibburn, there have been a total of 134,519,822 SHIB tokens burned via 17 transactions. The latest transaction processed 100M SHIB tokens.
Shibburn is the dedicated burn project, made exclusively for the Shiba Inu community. It automatically reports SHIB token burns whenever they happen.
In the past 24 hours, there have been a total of 134,519,822 $SHIB tokens burned and 17 transactions. So far, a total of 410,301,214,599,811 #SHIB tokens (41.03012%) have been burned from the initial supply of 1 quadrillion. #shibarmy— Shibburn (@shibburn) January 17, 2022
Cryptocurrency burning happens when tokens are intentionally sent to unusable or dead wallet addresses to remove them from circulation. This means, the address is not used or accessed by anyone, and coins settled there are lost forever.
Following the latest Shiba Inu token removal, the meme coin became a bit more scarce, as already a bit over 41% of SHIB max supply is burned. The maximum supply of SHIB is 1 quadrillion tokens.
The move, however, has not worked in favor of Shiba Inu’s price. The meme coin dropped by over 3% during the past 24 hours and trades at $0.00002954 at the time of writing.
The popular token dropped to $0.00002653 on January 10th, 2022. The lows have last seen on October 2021, right before the massive 208% rally to $0.0008190.
In the meantime, SHIB remains sitting among the top 15 biggest cryptos with over $16.2 billion market capitalization.
Why You Should Care
The popular Shiba Inu (SHIB) token had an impressive gain through 2021. It settled itself as one of the most prominent meme coins with massive community involvement and high trading volumes. The project is going through multiple important changes this year, including the release of DOGGY DAO.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.