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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

SpaceX's Historic IPO and Billionaire Backing

chest

SpaceX's IPO in June saw its stock price initially soar but has since faced volatility, with significant investments from billionaires.

user avatarTomas Novak

Strategy Halts Bitcoin Transactions for the Week

chest

Strategy did not engage in any Bitcoin purchases or sales last week, maintaining its holdings at 840,447 BTC.

user avatarKaterina Papadopoulou

Fake Downloads of The Odyssey Spread Lumma Stealer Malware

chest

Security firm Bitdefender warns that pirated copies of The Odyssey are circulating with malware designed to steal cryptocurrency wallets.

user avatarMaya Lundqvist

Shiba Inu SHIB Gains Momentum with New Listings and Adoption

chest

Shiba Inu SHIB has been listed on the Australian exchange FameEX and is now usable at Dubai Duty Free airport stores, marking significant adoption milestones.

user avatarLeo van der Veen

Rise in Wrench Attacks Targeting Cryptocurrency Holders

chest

The report highlights a surge in wrench attacks, particularly in France, where criminals are targeting cryptocurrency holders.

user avatarAisha Farooq

Massive Data Breach Exposes French Tax Records

chest

A hacker is selling a large database of French tax records that could affect over 678,000 individuals and businesses, raising concerns about phishing and identity theft.

user avatarLi Weicheng

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.