7.1 Million SHIB Burned Over 24 Hours, While 140 Million Destroyed in Past Week
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to data provided by etherscan and posted by Twitter user @shibburn on his page, in the past 24 hours, over 7.1 million Shiba Inu tokens have been demolished and permanently taken out of circulation.
However, the amount of SHIB burned in the past incomplete week is 20 times bigger.
Shib army keeps burning its meme coins
Data provided by etherscan shows that over the past 24 hours, in the course of four transactions, an overall amount of 7,108,679 tokens have been moved. The transactions carried 2,218,114; 1,124,780, 1,132,023 and 3,553,793 to the null address. This amount of crypto is worth $192.
Thus far, 410.3 trillion SHIB have been incinerated from the one quadrillion of the initial supply.
In the past 24 hours, there have been a total of 7,108,679 $SHIB tokens burned and 4 transactions. So far, a total of 410,300,759,850,272 #SHIB tokens (41.03008%) have been burned from the initial supply of 1 quadrillion. #shibarmy
— Shibburn (@shibburn) January 11, 2022
140 million SHIB gone for good in six days
A deeper look at the data published open access by the etherscan team shows that 138.9 million Shiba Inu have been removed from circulation by burning as well in the past six days and three hours.
The largest transfer carried 103,270,223 (three days ago) and 10,716,185 (six days ago).
Alex DovbnyaSHIB pushed back to 14th place, down 22%
Despite the constant burns of substantial amounts of SHIB and the fact that 41% of the initial quadrillion supply has been locked in an unspendable address already, the second-most popular meme cryptocurrency has by now fully retraced its October rally.
Since Jan. 2, SHIB has lost 21.34% of its value, dropping from $0.00003422 to the $0.00002642 level. By now, the token is changing hands at a slightly higher price - $0.00002693 - on the Binance exchange.
The meme cryptocurrency promoted as the "Dogecoin killer" has now been moved from 12th place on CoinMarketCap to 14th. Its market capitalization now totals $14,755,840,488.
Polygon's MATIC now holds the 13th spot and Dogecoin sits in 12th place.
Related articles
Gamza Khanzadaev
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov