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306 Million SHIB Burned Over Last 24 Hours, 500 Million to Be Gone Today

Tue, 02/15/2022 - 09:21
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Yuri Molchan
Various teams within the Shiba Inu community have burned over 306 million meme tokens in the last 24 hours, planning to burn 500 million more today
306 Million SHIB Burned Over Last 24 Hours, 500 Million to Be Gone Today
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In a recent tweet, @Shibburn Twitter account spread the word that in the last 24 hours, 306.1 million SHIB tokens have been sent to "inferno" wallets to be removed from circulation permanently.

Another 500 million SHIB is expected to get gone today too.

Meanwhile, the community holding the second biggest canine cryptocurrency and "Dogecoin killer" has reached a new all-time high by number of hodlers.

306.1 million SHIB gone

Citing its own website that duplicates data on transactions related to burning SHIB from etherscan, Twitter user Shibburn tweeted that over the last 24 hours, a total of 306,104,347 SHIB have been sent to dead wallets from which nobody can withdraw or spend them in any way.

Thus, another big lump of SHIB has been taken out of the circulating supply, which initially totaled a staggering one quadrillion. It took the community 30 transfers to unspendable wallets to burn that many tokens.

An hour later, another 32,995 SHIB were incinerated, according to Shibburn.

SHIBaInuburned_00ef1
Image via shibburn

Bigger Entertainment burns 240 million SHIB, promises one billion burned this week

From the aforementioned 306.1 million SHIB that were locked in dead wallets permanently, the biggest portion was moved to one of these addresses by Bigger Entertainment crypto record label and its CEO, Steven Cooper.

During the scheduled burn party that took place on Valentine's Day, they destroyed a total of 240,192,701 tokens during a live YouTube stream.

On Feb. 14, before the party, Cooper took to Twitter to announce that close to one billion Shiba Inu tokens will be burned overall this week. Bigger Entertainment destroyed 240.1 million and today, on Feb. 15, and gaming platform @317_key is going to burn roughly 500 million SHIB via one of its mobile phone games—Bricks Buster. Along with other SHIB burn initiatives, Cooper assumed that close to one billion SHIB might be burned this week and urged the community to strive to make it to two billion next week.

However, the @317_key account has tweeted that the total amount of SHIB to be burnt today is slightly less than that: 415,555,725.

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Number of SHIB holders soars to a new high

WhaleStats data service has announced that the SHIB community had expanded, and now the overall amount of addresses holding Shiba Inu has reached a new historic peak of 1,175,078.

Overall, the top 1,000 ETH whales are now holding a combined 54,462,051,231,488 Shiba Inu tokens worth $1,601,380,118.

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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.