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23 Million SHIB Burnt in Past Day, 50 Million Incinerated in Last 4 Days: Details

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Wed, 01/05/2022 - 09:33
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Yuri Molchan
As per data provided by etherscan recently, in the past 24 hours, close to 23 million Shiba Inu have been destroyed
23 Million SHIB Burnt in Past Day, 50 Million Incinerated in Last 4 Days: Details
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As per recent data shared by the @shibburn Twitter account, over the past hour, over 10 million SHIB tokens have been burned. That makes it almost 23 million coins burned in the past 24 hours.

Of the total canine coin supply, 41.03006% has been destroyed so far.

23 million SHIB incinerated

Twitter user @shibburn, who posts etherscan links related to Shiba Inu tokens burned, has posted a tweet that in the last hour, a total of 12,231,491 SHIB have been burned in eight transfers to a null wallet. Thus, overall, 410,300,588,013,001 of these meme tokens have been burned. That is 41.03006% of the overall 1 quadriallion supply of SHIB. Almost all of it was burned by Vitalik Buterin after he was presented with half of the quadrillion.

He burned approximately 40% of his half of the SHIB supply, which was given to him by the SHIB founder. He donated the rest to an Indian charity to help fight the aftermath of the pandemic that is striding all over the globe at the moment, with new variants constantly emerging.

The second tweet posted by this user says that 10,716,185 SHIB have been burned in the past couple of hours in a single transaction.

50 million SHIB burned in past four days

Etherscan also shows that over the past four days, more than 49.6 million SHIB tokens have been taken out of circulation permanently, with the largest single transaction carrying 11,851,851; 10,716,185 and 7,335,349 Shiba Inu tokens.

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Here's how music artists help burn Shiba Inu

The Bigger Entertainment project that sells music-related merch and NFTs for crypto and allows consumers to listen to music playlists on its website conducts regular Shiba Inu burns. On Dec. 26, they sent 239,600,144 SHIB to a wallet from which it cannot be spent. Overall, since late October 2021, the project team has destroyed a total of 884,983,100 coins.

The owner of the service, Steven Cooper, has explained how the mechanism of collecting SHIB for these burn parties works.

To contribute to that, users just need to listen to the music on the project's website. All of the artists that collaborate with Bigger Entertainment allow the team to spend a portion of their royalties on buying SHIB, which later on will be burned.

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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.