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

Pirate Chain Developers Report Major Vulnerability

Pirate Chain developers disclosed a significant vulnerability leading to the creation of approximately 398 million unauthorized ARRR tokens, raising urgent questions about network supply and trust.

user avatarSatoshi Nakamura

Crypto King Aiden Pleterski Faces Criminal Charges Over Misuse of Investor Funds

A Canadian court hears evidence that Aiden Pleterski misused investor funds for personal expenses.

user avatarJesper Sørensen

BinanceUS Seeks $100 Million in Fundraising Round

BinanceUS is reportedly pursuing a $100 million fundraising round at a valuation of approximately $1 billion to strengthen its position in the American cryptocurrency market.

user avatarRajesh Kumar

Consulting Arrangement Raises Questions About Tether and Bo Hines

A reported $63 million consulting arrangement between Tether and Nxum, linked to former White House adviser Bo Hines, has sparked concerns over potential conflicts of interest.

user avatarLucas Weissmann

Arbitrum Engages European Financial Institutions on Blockchain Infrastructure

Arbitrum representatives presented the network's infrastructure and revenue model to European financial institutions managing substantial assets, discussing its commercial potential and the value of blockchain services.

user avatarFilippo Romano

Grayscale Partners with Republic to Launch Specialized Crypto Funds

Grayscale and Republic have launched three specialized cryptocurrency funds with a minimum investment of $2,500 for accredited investors, focusing on decentralized finance, artificial intelligence, and blockchain data infrastructure.

user avatarEmily Carter

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.