This burning happened as the Shiba Inu price rose as high as $0.000032 earlier today.
120 million coins incinerated
Over the past 24 hours, several crypto addresses have burned a combined 116,432,319 SHIB tokens. In the few hours that followed, more SHIB were moved out of circulation.
Overall, a total of 119,729,010 meme tokens have been locked up in unspendable wallets for good.
Earlier on Feb. 17, U.Today covered that the top 1,000 Ethereum investors accumulated over $2 billion worth of Shiba Inu in their wallets. Besides, SHIB had made it back to the top 10 list of the most purchased assets; however, it is behind MATIC on that list.
SHIB price action, coin hits $0.000032
The second largest meme crypto (SHIB) has finally gotten itself out of the low range of $0.000019-$0.000023, where it had been trading for roughly two weeks—from Jan. 22 until Feb. 6. Since then, the coin has managed to reach a high of $0.000033 but then it went down to $0.000028.
Earlier today, the canine cryptocurrency managed to rise to the $0.000032 level, as per data provided by CoinMarketCap. At press time, Shiba Inu is changing hands at $0.00003043.