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Shiba Inu (SHIB) Burning Extremely Different Since December: Details

Mon, 12/19/2022 - 08:17
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Gamza Khanzadaev
Here's how much SHIB was burned last week, as Shiba Inu burning changes a lot in December
Shiba Inu (SHIB) Burning Extremely Different Since December: Details
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According to crypto statistics portal CryptEye, 176.7 million SHIB were burned last week, which, at the current token price of $0.0000086, is equivalent to $1,517. At the same time, a total of 304.41 million SHIBs were already burnt during the 19 days of the month, which, if extrapolated to the entire month of December, would amount to about half a million burnt SHIBs.

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This number characterizes a strong decline in the number of Shiba Inu tokens burned. By comparison, an average of 1 billion SHIB tokens were burned during each month of autumn. If we refer to the data provided by U.Today earlier, we find that, in summer, the average number of Shiba Inu tokens burned was 4 billion SHIB per month.

In other words, the halving of SHIB burning in winter from autumn levels is just part of the bigger picture and a continuation of the trend set in late summer.

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At the same time, in hindsight, we can say that SHIB burning figures in the summer were more of an anomaly. If one looks at the annual combustion graph, one can see how from a plateau like the one we have now, the SHIB burning figures from mid-July have risen so much that they have almost drawn a vertical line.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.