Wednesday, December 8, 2021

Shiba Inu Tokens Burned by Ethereum’s Vitalik Buterin Five Months Ago Would Now be worth $27.8 Billion

About five months ago, Vitalik Buterin, the co-founder of Ethereum (ETH), burned trillions of Shiba Inu (SHIB). According to current prices, the total amount of SHIB destroyed by Buterin would have become relatively $27.8 billion.

Back then, Buterin also donated 50 trillion SHIB worth $3.4 billion at current prices to India, which was battling with coronavirus pandemic at that time.

Read Also: Vitalik Buterin: Layer 2 Is the Only Safe Way to Scale Ethereum and Preserve Decentralization

In Just Five Months, the Growth Has Been Massive

The success of Dogecoin (DOGE) since the beginning of 2021 has led to the rise of many copycats that aimed at stealing from its public attention and rivaling the meme coin’s growth to prominence. Arguably, among all these DOGE copycat coins, the most popular one is Shiba Inu (SHIB).

By mid-May this year, the Russian-Canadian programmer, who co-created Ethereum, was holding 50% of the coin’s total supply.

Back then, he decided to give out 50 trillion SHIB tokens to India Covid Relief Fund. Surprisingly, a week later, he burned 90% of his remaining Shiba Inu coins (410.24 trillion tokens) and vowed to donate the rest to charity organizations.

Read Also: Vitalik Buterin: My Biggest Regret about Ethereum is the Whole ‘8 Cofounders’ Thing

By the time of the burn, the transaction was worth $6,74 billion. Howbeit, in recent weeks, SHIB has significantly increased against the dollar, and this stash would now be worth $27.8 billion if not burned.

Currently, the amount of Shiba Inu (SHIB) in circulation and available to the public is 549,153,087,840,070.


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Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

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