According to the Bigger Entertainment team led by Steven Cooper, 239,600,144 SHIB was burned during the burn party that was conducted on Boxing day. This implies that the mentioned amount of SHIB tokens were sent to a null address and permanently taken out of circulation.
It’s worth noting that various entities, aside from Bigger Entertainment, have been sending Shiba Inu tokens to the null address. According to data made available by Etherscan, in the past day and a few hours, a total of 370.4 Shiba Inu (SHIB) has been burned.
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The biggest transaction here carried 9,110,280 SHIB, several lumps of one million coins, and less than a million tokens were detected.
It can be recalled that Steven Cooper stated in a tweet that within the next 60 days, the SHIB tokens burn rate will double as the project looks to explore new ways of taking some of the meme tokens out of circulation.
Today we burned over 239 Million #SHIB gave away a FREE NFT, a blend of @ShibaCoffeeCo coffee & had over 2,000 viewers deep at A Very Merry Shiba Christmas! #SHIBARMY we salute you! 😎🔥 etherscan link of verified burns: https://t.co/Q3DbCj1d0C pic.twitter.com/awll7nPORI
— Bigger Entertainment (@biggerent) December 26, 2021
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Over 800 Million SHIB Burned since Mid-Fall
According to Steven Cooper’s Twitter handle, Bigger Entertainment started burning Shiba Inu meme crypto tokens in October 2021.
The company sells non-fungible tokens (NFTs), merch, and tickets to events for crypto, allowing the SHIB Army to contribute to the amount of SHIB to be burned. Moreover, users can listen to music tracks on the project’s website, thus also helping to burn SHIB tokens.
The last burn party this year took place on 26th December. According to the tweet and the video stream on YouTube, 239,600,144 SHIB tokens were burned or sent to a “dead” address, from which these coins cannot be withdrawn or spent.
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Initially, Cooper hoped to burn one billion coins and in several tweets encouraged the SHIB community to support that initiative by pitching in $5 each. However, his enthusiasm was not shared, and only approximately one-fifth of that was destroyed.
Overall, since October, Cooper has burned 880,983,100 SHIB tokens. That equals $33,741.60.
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