Shiba Inu Burn Rate Soars: Over 1 Billion SHIB Destroyed in a Day

user avatar

by Giorgi Kostiuk

2 years ago

The burning of SHIB coins is accelerating: over 1 billion meme coins have been destroyed in the past day. Meanwhile, SHIB's price has surged to cross the $0.00002606 mark.

1.2 Billion SHIB Burned

According to Shibburn, over the past day, more than 1.2 billion SHIB coins have been burned. This was made possible by a single anonymous transaction that destroyed over 1 billion Shiba Inu. A total of 14 transactions were made to wallets where the coins cannot be spent.

Shytoshi Kusama's Goals for SHIB

SHIB lead developer Shytoshi Kusama has expressed his intention to elevate Shiba Inu to the top-5 cryptocurrencies by market capitalization. In his tweet, he shared an image symbolizing his aspiration, emphasizing that it is a goal and a challenge for him.

Shiba Inu's Current Position

Currently, Shiba Inu ranks 14th on CoinMarketCap's scale with a market capitalization of $15.26 billion. The meme coin is trading at approximately $0.00002589.

Shytoshi Kusama's plans to promote Shiba Inu reflect ambitious goals from the team. Meanwhile, substantial coin burns could impact SHIB's market value.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Solana Foundation Appoints New Executives to Boost Institutional Adoption

The Solana Foundation has appointed Rachel Conlan as Chief Strategy Officer and Jamal Raees as General Manager of Payments to enhance institutional adoption and expand its payments infrastructure.

user avatarMiguel Rodriguez

SpaceX Stock Breakout Discussion Heats Up

Traders are buzzing about the potential for a SpaceX stock breakout due to significant price fluctuations and upcoming stock unlocks.

user avatarLuis Flores

Uniswap v4 Hooks Achieve Milestone with 500 Registered Deployments

Uniswap v4 has reached a significant milestone with over 500 registered custom hook deployments, showcasing the active engagement of developers in the ecosystem.

user avatarArif Mukhtar

SK Hynix Stock Eyes New Highs Amid Bullish Predictions

SK Hynix stock opened at 189 on Thursday, aiming to breach the 200 level with bullish predictions from Wolfe Research, targeting 250.

user avatarMaria Gutierrez

Optimism Superchain Surpasses $14 Billion in Total Value Locked

Optimism's Superchain has recently surpassed a remarkable $14 billion in total value locked, showcasing the significant growth of its ecosystem.

user avatarDavid Robinson

Canary Capital Launches TRON ETF, Expanding Institutional Access

Canary Capital launches the Canary Staked TRX ETF, enhancing institutional access to the TRON network.

user avatarJacob Williams

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.