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1.14 Billion Shiba Inu Burned in Single Week by These Projects: Report

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Tue, 12/28/2021 - 09:17
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Yuri Molchan
According to a recent report, 1.140 billion SHIB tokens were eliminated last week alone with four billion SHIB burned since the start of December
1.14 Billion Shiba Inu Burned in Single Week by These Projects: Report
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According to a recent tweet posted by the "SHIBtyme" Twitter account, from Dec. 12 to Dec. 26, the amount of SHIB tokens burned totaled 1,140,746,704. Three Twitter accounts were tagged in the tweet: Bigger Entertainment's account, its founder Steven Cooper and vEmpire DDAO.

Almost two billion SHIB burnt this month

The first, Bigger Entertainment, is a crypto label that sells merch, NFTs and tickets to events, and allows users to listen to music tracks on their website, thus permitting users to contribute to regular SHIB burn parties. The latest one took place on Dec. 26, when 239,600,144 SHIB tokens were taken out of circulation by being moved to an unspendable address.

Overall, since the middle of October when this project started, the team has burned 880,983,100 SHIB—that is worth $33,741.60.

According to the "SHIBtyme" tweet, since December, the SHIB army has burned almost two billion SHIB in total: 1,943,391,652 tokens, to be exact.

The average amount of SHIB burned per day is 13,741,174 coins.

According to the chart shared in the tweet, the largest SHIB burn took place on Dec. 22, when 700,000 tokens were destroyed. In all, 350,000 were burned on Dec. 26. Between 250,000 and 300,000 were sent to a "dead address" on Dec. 18.

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Almost three billion SHIB burned in December in all

As reported by U.Today earlier, a staggering 706 million SHIB was burned within just 24 hours on Dec. 23, giving the SHIB price a slight push upwards.

On Dec. 26-27, another 370.4 million were eliminated, according to ETH blockchain tracking service etherscan.

These two burns make up to almost three billion SHIB sent to a null address in December.

Steven Cooper tweeted that, as he predicted, SHIB burns had begun to grow with more and more companies and communities joining the Shiba Inu burn initiative. Earlier, Cooper promised that in the next two months the SHIB burn rate from Bigger Entertainment would double.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.