Over half a billion Shiba Inu (SHIB) have been removed from the circulating supply, while price is dropping

In the past 24 hours, 1.4 billion Shiba Inu (SHIB) have been transferred to dead crypto wallets. Besides, the SHIB community also burned about 200 million other tokens. Thus, the number of tokens destroyed since yesterday morning is more than half a billion. Meanwhile, SHIB has dropped 3% in the past 24 hours. At the time of writing, the token is changing hands at $0.00002317.

over-half-a-billion-shiba-inu-shib-have-been-removed-from-the-circulating-supply-while-price-is-dropping

SHIB/USD 4-hour chart | Source: TradingView

Shiba Inu (SHIB) army burns 1.6B tokens within 24+ hours as price loses 7% seven days ago

Another large amount of SHIB has been burned since yesterday morning, totaling 1,461,828,101 SHIB. Besides, more than 200 million SHIB were burned in the past few hours after the aforementioned tweet was published.

This massive SHIB burn or any other cumulatively executed can impact the price of the token. It has dropped nearly 3% in the past 24 hours and shows a weekly drop of 7.84%.

In another development, Shiba Inu and other cryptocurrencies are now accepted by player prop daily fantasy sports and Esports platform, ThriveFantasy. In a release, ThriveFantasy announced its partnership with FTX to allow crypto transactions on the platform.

Shiba Inu acceptance has also gained traction via BitPay as several companies such as SlingTV, American Cancer Society, Newegg, Menufy, Carolina Hurricanes and Twitch are accepting SHIB via BitPay at the moment.

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