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"Hell of a Number" of SHIB Tokens Burned in November: Details

Thu, 12/01/2022 - 09:58
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Yuri Molchan
Number of SHIB burned growing on monthly basis, along with SHIB adoption scale
"Hell of a Number" of SHIB Tokens Burned in November: Details
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Compared to all separate weekly burns in November, the total amount of SHIB destroyed last month has climbed over half a billion. That is still pretty low compared to the early fall and summer results.

666 million SHIB gone last month

As reported by Shibburn tracker platform, in November, the Shiba Inu army managed to remove "a devil's number" of these meme coins — slightly over 666 million.

In that month, the SHIB burn rate demonstrated high volatility and, a few times, jumped over 4,000 and 5,000 percent. However, those rises occurred after minuscule amounts of SHIB were burned within a period of 24 hours, such as 1-2 or even 6-8 million.

Recently, Shibburn even reported that only one SHIB token was sent to an "inferno" wallet, but it insisted that this was important as well, since every time a user visits a page related to burns, he/she helps to remove more meme tokens from circulation.

As for weekly burns in November, last week, a total of 223,264,370 Shiba Inu was removed from the supply in circulation.

Related
SHIB Now Accepted as Payment for Swedish Sports Cars: Details

SHIB accepted by Hublot, Elon Musk and elite sports car maker

Earlier this year, thanks to a collaboration with BitPay payment processor working with cryptocurrencies, the adoption of the second largest meme coin by market cap grew significantly.

In particular, Swiss watch making giant Hublot began accepting Shiba Inu, Dogecoin and other cryptos in August this year.

The Boring Company that belongs to billionaire Tesla boss Elon Musk, who also purchased Twitter in late October, began selling a collectible item from Musk, a perfume called "Burnt Hair" worth slightly over $100 per bottle. Around 10,000 bottles were sold within days.

As covered by U.Today recently, thanks to BitPay, Shiba Inu is now also accepted by the maker of elite Swedish sports cars, Koenigsegg Automotive AB.

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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.