Another big portion of SHIB has been permanently extracted from circulation, while more new ways to burn Shiba Inu are about to be introduced
Recent data on the channel shows that in the past 24 hours, more than 17 million SHIBs have been burned. A few hours later, a slightly larger amount of crypto meme was sent to a dead wallet.
Meanwhile, this Shiba Inu burning company has announced that it already has over 186 million SHIB to be burned at the upcoming burn party.
36.8 million SHIB left like this
Users behind the @Shibburn Twitter handle (dedicated to burning SHIB with their own website) reported that in the last 24 hours a total of 17,414,803 SHIB tokens were sent to a dead wallet. It took nine transfers from the SHIB army.
This was followed by a greater amount of meme crypto destroyed—19,415,027 Shiba Inu tokens were moved to the “inferno” unspendable address in only two transactions.
The same Twitter account recently reported that according to Etherscan, 1,321,145,209 SHIB tokens were destroyed in January. Shibburn also said he was preparing to announce new plans to burn Shiba Inu soon.
Shiba Inu has also recently inked a partnership with a chain of Welly’s fast food restaurants, where the token will be accepted as payment.
186 million SHIBs waiting to be burned
The company that has been actively destroying canine crypto since mid-autumn last year, Bigger Entertainment, recently announced the date for another event to burn SHIB – Valentine’s Day – live on YouTube. The announcement appeared on its webpage, where upcoming SHIB-related events are listed.
By now, there are 186,199,422 SHIB in the burning pot. However, the company’s founder, Steven Cooper, has recently tweeted to encourage the SHIB Army to help increase this sum by purchasing $5 tickets to the event or through buying NFTs, merch or listening to playlists on the website.
Part of the royalties, as agreed with the musicians, will be used to buy SHIB tokens and burn them later. Right now, according to Cooper’s recent tweet, they need to raise an additional $6,000 to make the Feb. 14 burn party the biggest yet.
The previous burn party was conducted on Dec. 26, when more than 239.6 million SHIB were moved out of the circulating supply.
SHIB is up 50% since the recent major drop
As the cryptocurrency market began to recover, led by flagship cryptocurrency Bitcoin, Shiba Inu also recovered half of its recent losses.
The second largest meme token has surged over 50% after its recent bottom, where it had been trading until Feb. 6. Within only a day, SHIB soared from $0.00002320 to $0.00003520 on Feb. 7—a rise by 51.70%.
At the moment, the token is changing hands at a slightly lower price of $0.00003299. This is around 62% below the all-time high of $0.00008845 that the token hit in late October.
