Shib Army Burns More Than 700 Million SHIB, Decreasing Token Supply Further

As reported by @shibburn crypto tracking service, over the past 24+ hours, almost three-quarters of a billion SHIB has been burned, i.e., sent to dead cryptocurrency wallets.

706 million SHIB removed from circulation

A recent tweet by the platform shows that over the past 24 hours, the SHIB community has locked a total of 697,829,091 meme tokens in dead wallets, taking 52 transactions to achieve that.

Within the past few hours, the amount of burned Shiba has risen to 706,186,411 coins.

In the past 24 hours, there have been a total of 697,829,091 $SHIB tokens burned and 52 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy

— Shibburn (@shibburn) May 3, 2022

The goal of "burns" in the case of crypto is to reduce a coin's supply and push as many coins out of circulation as possible in order to push the price up.

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Upmarket yacht company now accepts SHIB

Camper & Nicholsons, a luxury yacht charter and brokerage company, has struck a strategic partnership deal with BitPay crypto payments processor, and now the former will begin to accept digital currencies for its services: buying, chartering, etc.

Among the cryptocurrencies BitPay works with is Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, etc. As of 2021, BitPay has also been working with Shiba Inu, the second largest meme cryptocurrency.

Camper & Nicholsons is one of the largest yacht companies globally and was founded in 1782. At present, it boasts 11 offices on four continents, operating more than 140 yachts for providing its services.