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Shiba Inu Burns Progress as Momentous Day Nears for SHIB

Sun, 07/30/2023 - 13:33
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Tomiwabold Olajide
Shiba Inu burning has steadily progressed
Shiba Inu Burns Progress as Momentous Day Nears for SHIB
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Shiba Inu burning keeps generating interest from the SHIB community, which wants to see burns soar into the trillions. The first major and biggest Shiba Inu burn took place in May 2021, when Ethereum co-creator Vitalik Buterin torched 41% of the Shiba Inu supply.

Buterin, who was unwittingly given half of SHIB's total supply, burned 90% of his SHIB holdings, which totaled roughly $7.35 billion at the time, claiming he did not want to be a locus of power of that kind. In a single transaction, nearly 410.2 trillion tokens were sent to a dead blockchain address, thus removing them from circulation.

410 Trillion Shiba Inu (SHIB) Burn by Ethereum's Vitalik Buterin Might Be Biggest of All Time: Details

Shiba Inu burning has steadily progressed since then, with a total of 410,652,272,733,699 SHIB tokens burned from the initial supply of 1 quadrillion tokens.

According to the Shibburn initiative, in the last seven days, a total of 268,198,181 SHIB tokens were burned in 107 transactions.

In the last 24 hours, a total of 45,241,808 SHIB tokens were burned in 11 transactions.

Momentous day nears

Shiba Inu has begun a countdown to its third anniversary. The official SHIB Twitter account shares an exciting tweet alluding to the event: "The countdown has begun. We're just a few days away from our 3rd barkday, and the excitement is off the leash."

Ryoshi, Shiba Inu's unknown creator(s), launched the cryptocurrency in August 2020.

Shiba Inu's third anniversary promises to be a historic one, as SHIB is the title sponsor of the Blockchain Futurist Conference, where a lot of announcements are expected.

Shiba Inu (SHIB) Giveaway Announced, Here's What It's For

"It's there that the Worldpaper will be on display, fully completed, where all SHIB-branded projects will be revealed, and where TREAT will first be publicly discussed in detail. It's also highly likely we will discuss and even release our long-awaited L2 Shibarium," Shiba Inu lead Shytoshi Kusama earlier stated.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.