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

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

NextBlock Fully Funds Soda Labs' Seed Round with $3 Million Investment

NextBlock has invested $3 million in Soda Labs, fully funding the company's seed round to develop privacy infrastructure for financial applications.

user avatarTomas Novak

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.