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.
Owner of Bigger Entertainment has a vision of how to help push SHIB price toward $0.01. Meanwhile, in the past 24 hours, almost 72 million Shiba Inu coins have been burned.
"This is how we reach $0.01"
Steven Cooper's Bigger Entertainment sells NFTs, merch and tickets to events for SHIB, as well as allowing users to listen to music tracks, spending part of the profits and part of the royalties they pay to the artists to buy SHIB and then burn it.
He has tweeted that his company aims to spread outside of the SHIB Army in order to get people from outside the community—who may even be unfamiliar with crypto—to help destroy the meme tokens.
Cooper believes that this could be a way to help the Shiba Inu price reach the $0.01 level—by entertaining people.
Our goal isn't for #shib holders to always burn their coins. Our goal is to spread music, YouTube vids, merch, NFT's, etc to audiences outside of #shibarmy. This is how we reach a .01. By building an ecosystem where people are burning w/o even knowing it. Through entertainment.
— Steven Cooper (@iamstevencooper) January 30, 2022
Cooper's company has been burning SHIB since October of last year, and the amount burnt by it approaches one billion tokens now. They send tokens to a dead wallet live on YouTube during so-called "burn parties." The SHIB Army also offered to buy a $5 ticket to such a party, this way helping to get more SHIB burnt.
The previous token burn took place on Boxing Day, Jan. 26; a total of 239,600,144 SHIB were sent to the unspendable "inferno wallet."
The next burn party will occur on Feb. 14, Valentine's Day.
2.7 billion tokens destroyed since December
According to data provided by the "SHIBtyme" Twitter account, since Dec. 1, a whopping 2,770,970,782 tokens have been removed from circulation. The average daily burn constitutes around 51,314,274 tokens.
The recent count made by this Twitter page owner shows that between Jan. 17 and 23, 194,644,388 SHIB were incinerated.
Weekly #ShibBurnWrapUp ? (1/17 - 1/23):
— SHIBtyme (@worldofao) January 25, 2022
Total #shib Burned in Week: 194,644,388
Since 12/1 #SHIBARMY :
Total Burned: 2,770,970,782
Total Supply Burned: -.0004699%
Median Daily Burn: 12,507,515 (+10% WoW)
Avg. Daily Burn: 51,314,274 pic.twitter.com/V34KyMIeUD
Over the past 24 hours, as per Twitter user @shibburn, 61,668,406 SHIB were destroyed. Burning this amount of SHIB took 26 transfers to a dead wallet.
After that 3.6 million, 5.6 million and 1 million tokens were burned as well.
In the past 24 hours, there have been a total of 61,668,406 $SHIB tokens burned and 26 transactions. So far, a total of 410,301,786,398,738 #SHIB tokens (41.03018%) have been burned from the initial supply of 1 quadrillion. #shibarmy
— Shibburn (@shibburn) January 31, 2022
Arman Shirinyan
Godfrey Benjamin
