Another 383.5 million Shiba Inu (SHIB) get burned; still the price is not winning, dropping toward 2021 lows
In the past 24 hours, more than 144.5 million Shiba Inu (SHIB) have been removed from circulation permanently. However, these regular tokens burn, which does not seem to affect the price of the coin. A total of 239 million SHIB also burned two days ago. Currently, the Shiba Inu price is falling, continuing to fall from the all-time high reached in October 2021.
383.5 million Shiba Inu (SHIB) burned in the past three days, while the coin is in decline
Twitter user @shibburn, who keeps the SHIB community aware of many transactions that move large amounts of SHIB to a dead wallet, tweeted that in the last 24 hours, a total of 134,519,822 tokens have been burned. That took 17 trades. In the tweet posted later, the user tweeted that another million tokens were burned, bringing 144.5 million.
Twice this amount of dog tokens were also burned two days ago, when in his tweet on January 15, Steven Cooper, an entrepreneur who also likes to burn SHIB, thanked the team behind Travis Johnson’s SHIB burning games.
According to Cooper’s tweet, two days ago, these guys deposited more than 239 million SHIB into a dead wallet so that no one could withdraw or spend that money. The Twitter account of this game company shows that they have burned more than 358,000,000 SHIB to date.
Steven Cooper is the owner of the cryptocurrency music label Bigger Entertainment, which also causes SHIB to often run out of stock. The recent SHIB burn party hosted by the company live on YouTube took place on December 26th. Back that day, they destroyed 239,600,144 tokens.
The next burning party will be on February 14, Saint Valentine’s Day, and so far, there’s $1,200 worth of SHIBs in the “burner pot.”
On December 30, Cooper tweeted that his team now plans to burn $100,000 worth of SHIBs — a whopping 3,409,943,656 tokens.
Since a peak of $0.00003146 on January 15, the second-largest dog cryptocurrency, Shiba Inu, has lost 7.96% so far. At press time, the token is being changed hands at $0.00002896.
Last week, SHIB rallied around 20% following rumors that the app Robinhood would list soon. However, the company’s top executive did not confirm these rumors. Jason Warnick, its chief financial officer, announced that Robinhood would keep its listing options open.
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