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Over 263 Billion SHIB Burned Since October, $0.01 Shiba Inu the Target Price, Burn Rate to Rise with New Feature

Since the Shiba Inu burn initiative was launched, it has seen tremendous success, as the community use the power of unity to make their dream a reality. It’s good news that SHIB burn has continued steadily and targeted at pushing its price up to $0.01.

According to Steven Cooper, the CEO of Bigger Entertainment, who has been leading the SHIB burn initiative from the onset, over 263 billion SHIB tokens worth over $6.3 million have been burned since October 2021 via community-driven initiatives, with 2 billion of those tokens destroyed recently within 24 hours.

Read Also: Shiba Inu Loses Over 30,000 Holders in a Single Day, but ETH Whales Keep Accumulating SHIB: Details

Steven Cooper tweeted, “263.4 Billion SHIB have been burned through community initiatives since Oct 2021. Over 6.3 Million dollars at current price. 2 Billion of those were burned in the last 24 hours. Amazing! Way to go SHIB ARMY. We’re stronger together. Lets make it our goal to unite even further.”

According to available data, a total of 410.30 trillion SHIB tokens have been burned since the launch of the meme token. At launch, Shiba Inu (SHIB) had a total supply of one quadrillion tokens, but 50% of these tokens were locked in a smart contract to provide liquidity on decentralized exchanges (DEX) Uniswap, while the remaining half was sent to the Ethereum co-founder, Vitalik Buterin.

Afterward, Buterin burned relatively 90% of SHIB tokens donated to him in a transaction that completely removed over 410 trillion SHIB from the circulating supply.

After the notable SHIB burn, the Shiba Inu community turned SHIB burning into a custom via burn parties conducted by Bigger Entertainment and a number of firms that use part of their profits to burn tokens.

Read Also: Major Car Dealer in New Jersey Now Accepts All Coins of Shiba Inu Ecosystem, SHIB, BONE, and LEASH

Shiba Inu (SHIB) Burn Effort to Rise Steadily With New Features

The rate of burning SHIB is set to rise after crypto payment processor NOWPaments launched a new feature, which allows merchants to choose to use a part of their profits to burn either Shiba Inu tokens or LEASH.

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Also, the Shib burn portal developed by the team behind Shiba Inu is on the cusp of launching. The burn portal is targeted at helping to increase the SHIB burning rate.


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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
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