1.14 billion Shiba Inu (SHIB) were burned last week
The amount of Shiba Inu burned since the beginning of the month has continued to grow over the days. Last week, more than 1.140 billion SHIB tokens were withdrawn from circulation. This brings the total tokens in the asset that were token burnt in December to 4 billion. The value of the cryptocurrency was also able to derive a slight profit at the end of the weekend.

Nearly two billion tokens burned in December by the SHIB ARMY

According to a recent tweet posted by the SHIBtyme Twitter account, the number of SHIB tokens burned in the week ending December 26 stands at 1,140,746,704. Three Twitter accounts were tagged in the tweet as top contributors namely the account of Bigger Entertainment, that of its founder Steven Cooper and of vEmpire DDAO. Indeed, Bigger Entertainment is a label that allows users to burn SHIBs by listening to music tracks on its website. Its last major operation took place on December 26, when 239,600,144 SHIB tokens were taken out of circulation by being moved to an unusable address.
Since the project began in mid-October, the team has burned 880,983,100 SHIBs, worth $33,741.60. According to another tweet from SHIBtyme, the SHIB ARMY has burned almost two billion SHIB, a total of 1,943,391,652 tokens to be exact, since the beginning of the month. According to the chart shared in the tweet, the largest operation of its kind carried out by it took place on December 22 with 700,000 tokens that were destroyed. While 300,000 SHIBs were transferred to a dead address on December 18 by the SHIB ARMY, an additional 50,000 tokens suffered the same fate on December 26.
Increased number of projects supporting Shiba Inu token burn

Based on the figures provided by Etherscan, there would have been nearly 4 billion SHIBs sent to a dead address in December. As Steve Cooper recalled in a tweet posted earlier this week, the number of businesses and communities joining the Shiba Inu token burn initiative has increased significantly this month. He also promised that the amount of tokens destroyed by Bigger Entertainment would double over the next two months.

After having dynamited the cryptocurrency market in 2021, the Shiba Inu is naturally the subject of optimistic forecasts for 2022. While it is true that the permanent withdrawal of a large quantity of tokens will increase the value of the memecoin, it Above all, it will have to gain in usefulness. However, some analysts believe that the altcoin will not be able to replicate this year's spectacular performance in the future.

Source: ZyCrypto
Earn up to 40% commission on every trade made on Binance:
https://accounts.binance.com/en/register?ref=D8YBAS8U
1.14 billion Shiba Inu (SHIB) were burned last week The amount of Shiba Inu burned since the beginning of the month has continued to grow over the days. Last week, more than 1.140 billion SHIB tokens were withdrawn from circulation. This brings the total tokens in the asset that were token burnt in December to 4 billion. The value of the cryptocurrency was also able to derive a slight profit at the end of the weekend. Nearly two billion tokens burned in December by the SHIB ARMY According to a recent tweet posted by the SHIBtyme Twitter account, the number of SHIB tokens burned in the week ending December 26 stands at 1,140,746,704. Three Twitter accounts were tagged in the tweet as top contributors namely the account of Bigger Entertainment, that of its founder Steven Cooper and of vEmpire DDAO. Indeed, Bigger Entertainment is a label that allows users to burn SHIBs by listening to music tracks on its website. Its last major operation took place on December 26, when 239,600,144 SHIB tokens were taken out of circulation by being moved to an unusable address. Since the project began in mid-October, the team has burned 880,983,100 SHIBs, worth $33,741.60. According to another tweet from SHIBtyme, the SHIB ARMY has burned almost two billion SHIB, a total of 1,943,391,652 tokens to be exact, since the beginning of the month. According to the chart shared in the tweet, the largest operation of its kind carried out by it took place on December 22 with 700,000 tokens that were destroyed. While 300,000 SHIBs were transferred to a dead address on December 18 by the SHIB ARMY, an additional 50,000 tokens suffered the same fate on December 26. Increased number of projects supporting Shiba Inu token burn Based on the figures provided by Etherscan, there would have been nearly 4 billion SHIBs sent to a dead address in December. As Steve Cooper recalled in a tweet posted earlier this week, the number of businesses and communities joining the Shiba Inu token burn initiative has increased significantly this month. He also promised that the amount of tokens destroyed by Bigger Entertainment would double over the next two months. After having dynamited the cryptocurrency market in 2021, the Shiba Inu is naturally the subject of optimistic forecasts for 2022. While it is true that the permanent withdrawal of a large quantity of tokens will increase the value of the memecoin, it Above all, it will have to gain in usefulness. However, some analysts believe that the altcoin will not be able to replicate this year's spectacular performance in the future. Source: ZyCrypto Earn up to 40% commission on every trade made on Binance: https://accounts.binance.com/en/register?ref=D8YBAS8U
2
0 Comments 0 Shares