383.5 million additional Shiba Inu chips are burned; price still not a winner, dropping to 2021 lows
Over the past 24 hours, over 144.5 million SHIB tokens have been removed from circulation forever, but these regular token burns, however, seem to have no effect on the coin’s price. Currently, the Shiba Inu price is declining, falling further from its all-time high reached in October 2021.
A total of 239 million SHIBs were also burned two days ago.
144.5 million SHIB go to inferno
Twitter user @shibburn, who keeps the SHIB community aware of multiple transactions that move large amounts of SHIB to a dead wallet, has tweeted that in the past 24 hours, a total of 134,519,822 tokens have been incinerated. That took 17 transactions.
In the tweet posted after that, the user tweeted that another million tokens had been burned, bringing the total number to 144.5 million.
Over 239 million SHIB destroyed two days ago
Twice this amount of these canine crypto tokens were also burned two days ago, when in his tweet on Jan. 15, Steven Cooper, an entrepreneur who also loves burning SHIB, gave a shoutout to the team behind Travis Johnson’s SHIB burn games.
According to Cooper’s tweet, two days ago these guys sent over 239 million SHIB to a dead wallet so no one could ever withdraw or spend those coins.
The Twitter account of this gaming company shows that it has so far burnt over 358,000,000 SHIB.
Steven Cooper owns crypto music label Bigger Entertainment, which also does regular SHIB prints. The company’s recent SHIB burn party live on YouTube took place on December 26th. That day, they destroyed 239,600,144 tokens.
The next burn party is to occur on Feb. 14, St. Valentine’s Day, and so far there are $1,200 worth of SHIB in the “burn pot.”
On December 30, Cooper tweeted that his team now intends to burn $100,000 worth of SHIB, or 3,409,943,656 tokens.
Recent SHIB price action
Since a peak of $0.00003146 on Jan. 15, the second largest canine crypto, Shiba Inu, has lost 7.96% by now. At press time, the token is changing hands at $0.00002896.
Last week, SHIB rallied around 20% on rumors that the Robinhood app would soon list it. However, the company’s top executive did not confirm these rumors. Jason Warnick, the company’s chief financial officer, said Robinhood will keep its enrollment options open.
