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176 Million SHIB to Be Burned on Dec. 26, 641.3 Million Coins Destroyed Since October

Wed, 12/22/2021 - 09:08
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Yuri Molchan
Over half a billion Shiba Inu coins have been burned by this online project since October, and they plan to destroy another 176 million in just four days
176 Million SHIB to Be Burned on Dec. 26, 641.3 Million Coins Destroyed Since October
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The owner of the Bigger Entertainment crypto record label, Steven Cooper, has tweeted that his team intends to burn 176 million SHIB at the "burn party" at the end of this month right after Christmas, but this amount could be still bigger.

Meanwhile, Cooper has shared a link to etherscan, which shows that another two million SHIB have been burned, i.e., sent to a null address, from which coins cannot be spent or withdrawn.

SHIBburnt
Image via etherscan

Inviting the SHIB army to chip in for burning

Bigger Entertainment is the first label to accept SHIB as payment for merch, music, NFTs and tickets to events.

The "burn party" Cooper has been going on about for a while already will take place on Dec. 26. Earlier this month, he invited the SHIB community to buy tickets to the burn party for $5, saying that the earned SHIB equivalent of the cash earned will be burned on Dec. 26.

On Dec. 13, when that tweet was published, Cooper wrote that if 7,500 SHIB holders paid $5 each, the team would burn one billion Shiba Inu coins. Back on that day, they were 13% on their way to their goal. Now, with just four days to go before the burn event, the Bigger Entertainment team is prepared to burn 176 million SHIB.

Cooper calls on the SHIB community to give this a final push as one billion could be destroyed. He emphasized that burning as many coins in one go saves gas fees on Ethereum rather than conducting separate burns.

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641 million SHIB coins burned

Steven Cooper also tweeted that so far his team has destroyed 641 million coins since October, together with the two million SHIB they burned 11 hours ago. He shared a link to an etherscan page that showed that two million SHIB (worth $70) were sent to null address 0xdead000000000000000042069420694206942069.

Earlier, U.Today covered that Cooper promised that the SHIB burn rate by his team would double in the next 60 days as they are just getting started with new opportunities to burn Shiba Inu.

Overall, however, the amount of SHIB burned in November of this year equals approximately two billion coins.

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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.