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

BotPsy Sets New Standards in AI Performance Benchmarks

Tether's QVAC BotPsy has achieved impressive scores in AI performance benchmarks, scoring 440 on BFCL v4 and 587 on ACEBench, surpassing larger models and demonstrating the potential of smaller AI models.

user avatarMiguel Rodriguez

Tether Launches Innovative AI Model QVAC BotPsy

Tether introduces QVAC BotPsy, an AI model with 800 million parameters that excels in performing everyday tasks on personal devices.

user avatarRajesh Kumar

CoreWeave's Strong Q3 Performance Boosts AI Sector Sentiment

CoreWeave's strong Q3 results have increased investor sentiment in the AI sector, reporting $366 million in revenue, a 168% year-over-year increase, and raised full-year guidance.

user avatarLuis Flores

Deutsche Bank Launches Crypto Custody Service for Institutions

Deutsche Bank has officially launched its crypto custody service for institutional and corporate clients in Europe.

user avatarArif Mukhtar

Yana Prikhodchenko Takes the Helm as CEO of Phase

Yana Prikhodchenko has been appointed as cofounder and CEO of Phase, a technology company focused on the AI agent economy.

user avatarDavid Robinson

Phase Unveils Layer 1 Blockchain Mainnet and AI Agent Services

Phase has launched its Layer 1 blockchain mainnet and AI agent services, enabling autonomous operations for AI agents.

user avatarMaria Gutierrez

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.