Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to a recently published tweet, over the past 24 hours, more than one billion Shiba Inu meme coins have been moved to "inferno" wallets and out of circulation.
Aside from that, this SHIB-related business has made the commitment not only to burning meme coins but also to help with global SHIB adoption and utilization.
1.021 billion Shiba Inu sent to dead addresses
@shibburn has reported that since last morning, a comprised 1,021,292,580 Shiba Inu have been incinerated, i.e., moved to wallets from which these tokens can be neither withdrawn nor otherwise spent.
It took the various teams and individuals 41 transactions to remove that much SHIB, which is worth $24,296 in fiat.
In the past 24 hours, there have been a total of 1,021,292,580 $SHIB tokens burned and 41 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) March 22, 2022
244.5 million SHIB go to mid-April burn pot
SHIB Superstore Twitter account, which sells games on smartphones, merch and goods branded with SHIB, and whose team conducts regular token burns in the middle of each month, has announced that so far in March (as of March 20), they have managed to raise $5,808 to buy SHIB with.
This sum in USD can acquire roughly 244,547,368 canine tokens at the current SHIB/USD exchange rate. It will be added to the burn pot, which is to be destroyed on April 15, according to the company's website.
This SHIB-related business makes a new commitment
Steven Cooper, owner of Bigger Entertainment platform, has returned to Twitter after taking a short break.
Apologizing to his followers, he tweeted that his company is making a new commitment not only to help remove Shiba Inu tokens from circulation but also to provide assistance with global SHIB adoption and utilization.
TY to the #shibarmy for everything. Sorry for being back & forth at times. This shit hasn't been easy but it's worth it. I'll do better. ? @biggerent is making a new commitment to not only help w/ burns, but come alongside & help w/ worldwide #shib adoption & utilization.
— Steven Cooper (@iamstevencooper) March 22, 2022
Bigger Entertainment has also been burning large amounts of Shiba Inu on a regular basis, but it has not been burning SHIB every month.
The most recent burn party took place on Feb. 14, and the one before it was on Dec. 26. The project started burning tokens back at the end of October last year and, since then, has destroyed over a billion SHIB.
The company uses part of its revenues from selling SHIB merch, NFTs, tickets to events, games, YouTube, etc., to buy Shiba Inu and then move them to a dead wallet.
Vladislav Sopov