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383.5 Million SHIB Burned in Past 3 Days, While Coin Is in Decline

News
Mon, 01/17/2022 - 12:57
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Yuri Molchan
Another 383.5 million Shiba Inu tokens get burned; still the price is not winning, dropping toward 2021 lows
383.5 Million SHIB Burned in Past 3 Days, While Coin Is in Decline
Cover image via stock.adobe.com

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Over the past 24 hours, over 144.5 million SHIB tokens have been removed from circulation forever, but these regular token burns, however, seem to have no effect on the coin's price. Currently, the Shiba Inu price is declining, falling further from its all-time high reached in October 2021.

A total of 239 million SHIB were burned two days ago as well.

144.5 million SHIB go to inferno

Twitter user @shibburn, who keeps the SHIB community aware of multiple transactions that move large amounts of SHIB to a dead wallet, has tweeted that in the past 24 hours, a total of 134,519,822 tokens have been incinerated. That took 17 transactions.

In the tweet posted after that, the user tweeted that another million tokens were burnt, bringing the total count to 144.5 million.

shibburnt24hrs_00w1
Image via Twitter

Over 239 million SHIB destroyed two days ago

Twice this amount of these canine crypto tokens were also burned two days ago, when in his tweet on Jan. 15, Steven Cooper, an entrepreneur who also loves burning SHIB, gave a shoutout to the team behind Travis Johnson's SHIB burn games.

According to Cooper's tweet, two days ago, these guys sent more than 239 million SHIB to a dead wallet so no one can ever withdraw or spend those coins.

The Twitter account of this gaming company shows that it has so far burnt over 358,000,000 SHIB.

Steven Cooper is owner of Bigger Entertainment crypto music label, which makes regular SHIB burns as well. The recent SHIB burn party organized by the company live on YouTube took place on Dec. 26. Back on that day, they destroyed 239,600,144 tokens.

The next burn party is to occur on Feb. 14, St. Valentine's Day, and so far there are $1,200 worth of SHIB in the "burn pot."

On Dec. 30, Cooper tweeted that his team now intends to burn $100,000 worth of SHIB—a whopping 3,409,943,656 tokens.

Related
21.1 Million SHIB Burned in Past 24 Hours, While New SHIB Burn Site Kicks Off

Recent SHIB price action

Since a peak of $0.00003146 on Jan. 15, the second largest canine crypto, Shiba Inu, has lost 7.96% by now. At press time, the token is changing hands at $0.00002896.

Last week, SHIB rallied at around 20% on the rumors of the Robinhood app listing it soon. However, the top executive of the company did not confirm these rumors. Jason Warnick, the company's chief financial officer, stated that Robinhood would keep its listing options open.

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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.