Some hours ago, 103,270,223 SHIB was moved to the dead Shiba Inu wallet in a single transaction. This implies that these tokens have been permanently removed from the circulating supply.
The transaction was first reported via Shibburn Twitter handle.
Shibburn tweeted, “In the past hour, there have been a total of 103,270,223 SHIB tokens burned and 1 transaction.”
Read Also: Ethereum Whale Gimli Scoops Up another 110 Billion Shiba Inu Tokens worth $3.6 Million
The Burn Was Initiated By Bigger Entertainment
After the 103 million SHIB burn was announced by Shibburn on Twitter, Steven Cooper, the Bigger Entertainment owner, revealed that the burn was initiated by his team.
Steven Cooper tweeted, “This was us at Biggerentertainment.com. Learn how our company is contributing to the SHIB burns using music playlists, merch, nfts, games, burn parties, and more.”
This was us at https://t.co/qAZCxRSOss
Learn how our company is contributing to the #shib burns using music playlists, merch, nfts, games, burn parties, and more.— Steven Cooper (@iamstevencooper) January 8, 2022
Bigger Entertainment is a crypto record label that gets music artists to donate 20% of their royalties to buying SHIB that will be burned later on. The company also sells non-fungible tokens (NFTs), merch, and tickets to music events.
This company started their SHIB burn campaign back in October 2021, and since then they have burned relatively one billion SHIB, including the 103.2 million that was burned recently.
Over the past 5 days, close to 150 million SHIB has been destroyed, according to the data provided by Etherscan. By now, a total of 410.3 trillion SHIB have been burned, which is relatively 41% of the overall SHIB supply which initially amounted to one quadrillion.
8 Other Businesses that Have Pledged to Burn Shiba Inu (SHIB)
There are 8 other businesses that have joined Bigger Entertainment in the SHIB burn campaign. Among them is Shiba Coffee Company. This coffee-shipping business supports the SHIB ecosystem, buys SHIB with 100 percent of its profits, and burns ten percent of the SHIB it buys.
The following are 7 remaining businesses in the SHIB Burn pledge list:
- The Vibe Maquillage – cosmetics line burning 15% of all sales made in SHIB
- Marklien – a high-quality knitted apparel store. 25% will be burned from all purchases using SHIB as a payment method.
- Precious Paws – dog accessories and toys. 20% of profits will be burned.
- Cryptoon Network – 20% of sales will be burned.
- Save The F**king Trees – 75% of earnings from gear and art will go to burns.
- THE SHIBETTES | 1/1 NFTs – burning a percentage of proceeds from NFT sales
- Shiba Search – burning a percentage of add revenue
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