This Platform Burns 4.7 Billion SHIB, Planning to Surpass July Burns in August: Details

Shiba Inu

This SHIB burner has already destroyed more than 4.7 billion meme tokens since last year

The @shib_superstore Twitter account founded by the game maker for smart phones Travis Johnson, who has become an active member of the Shiba Inu community and has been burning SHIB since last year, shared that in August he received more tokens than in July. hopes to burn.

Besides, he says that by now he has burned nearly 5 billion SHIB overall.

“On pace to beat last month”, 4.7 billion milestone reached

Travis Johnson tweeted that August has so far been more successful for the SHIB submission that will be burned later than July. Over the past month, $1,000 worth of this meme token was burned, according to the chart shared in a recent tweet.

By now, on August 13, Travis wrote, he is “just about the halfway point of last month”.

Another major milestone mentioned in the tweet is that so far, the total amount of Canine tokens burned by this platform has exceeded $60,000. This is equal to 4,734,648,653 Shiba Inu.

Here’s how “1.3 billion SHIB could be burned per day”

A week ago, Johnson attracted the attention of the SHIB community with his tweet, saying that he knew how a staggering 1.3 billion SHIB could easily be removed from circulation on a daily basis.

The game developer wrote that this can be achieved with the help of the full arsenal of tools that their website provides – mostly, it includes various mobile games that generate ordinary income from advertising, partly spent on burning Shiba Inu coins. We do.

Inefficient burn mechanism

However, the current mechanism of burning SHIB tokens seems to be rather inefficient as this week over the past two days only as little as 30 million SHIB was burned, which is 0.0005% of the coin’s circulating supply.

Furthermore, about 10 percent of the supply is concentrated in the hands of the 100 largest wallets on Ethereum and these whales are unwilling to part with their SHIB to burn them.


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