Shiba Inu (SHIB) is burning HOT this winter.
According to Shibburn, another 19 million goes out of circulation forever in just the past 24 hours, bringing a total of burned tokens to 410,300,632,962,694, which makes up 41.03006% of the initial supply of 1 quadrillion.
In the past 24 hours, there have been a total of 19,337,093 $SHIB tokens burned and 11 transactions. So far, a total of 410,300,632,962,694 #SHIB tokens (41.03006%) have been burned from the initial supply of 1 quadrillion. #shibarmy
— Shibburn (@shibburn) January 7, 2022
According to the reports, 11 transactions have been carried to send the Shiba Inu token from circulating supply to the dead wallet created by Vitalik Buterin, the Co-founder of Ethereum (ETH).
Out of 19 Million, 3 Million shib were burned by Bigg Entertainment. This brings the total SHIB burned by the business to 899,841,222 since launching the Shiba burning campaign on Oct.
The dead wallet was created in May 2021, when Vitalik Buterin was first gifted half of SHIB’s total circulating supply by the team of Shiba Inu. In response, he decided to destroy 90% of the total circulating supply by sending the tokens to the dead wallet and throwing away the keys.
The decision was made as the Co-founder of Ethereum was not in favor of the centralized “Power.” With this act, he also sends the message to the people worldwide that Crypto is really “Decentralized,” which means there is no central authority that will control the market. This, in return, boosts Shiba Inu’s price, and now Shiba Inu is up 384690.38% from its all-time low of $0.00000002, registered on Aug 09, 2021.
Shiba Inu is currently working on its upcoming Multiplayer Collectable Card Game. In November, it has made eight months material fixed price work-for-hire development agreement with PlaySide Studios, the Australian company.