Shiba Inu’s (SHIB) token burn rate, along with some significant developments in play, is warming up the holders for the next Bull Run.
The official Twitter handle of Shibburn recently released the figures of SHIB burn for January, and they are looking massive.
Reportedly, 1,321,145,209 SHIB tokens have been taken out of circulation forever in January with 293 transactions.
? 1,321,145,209 $SHIB tokens have been burned in the month of January with 293 transactions. #shibarmy
— Shibburn (@shibburn) February 1, 2022
The final day of January contributed a burning of 56,610,790 SHIB tokens with 11 transactions.
The recent figure indicates that the burn rate for SHIB fell considerably, i.e., 36.27%, compared to the last month where 2,072,852,914 tokens were burned in December with 349 transactions.
But looking into the big picture, we can see that the SHIB community has already managed to burn a total of 410,301,843,009,529 (41.03018%) tokens from its initial supply of 1 quadrillion.
Although fewer SHIB tokens were burned in January compared to the last month, the SHIB Community is coming up with new ideas to burn the Shiba Inu token almost every week, if not every day.
Recently Steven Cooper, an owner of Bigger Entertainment, came up with the unique vision to burn the Shiba Inu token quickly and make SHIB’s price hit the 1 cent mark.
Steven Cooper has recently clarified his vision to his followers, saying his idea is not limited to burning SHIB token only, but he is focused on “Entertainment.” He wants to build an ecosystem where people continue to burn SHIB tokens without even knowing it. This can be possible only if we, together with the community, spread music, YouTube videos, merchandise, NFT’s, etc., to audiences outside of Shiba Inu holders.
He believes that only a true entertainment ecosystem could burn in the millions of dollars per month and makes the SHIB price go parabolic and hit the 1 cent mark in the future.
Our goal isn't for #shib holders to always burn their coins. Our goal is to spread music, YouTube vids, merch, NFT's, etc to audiences outside of #shibarmy. This is how we reach a .01. By building an ecosystem where people are burning w/o even knowing it. Through entertainment.
— Steven Cooper (@iamstevencooper) January 30, 2022
Bigger Entertainment is currently building a pot for its upcoming SHIB Burn Party, scheduled on Valentine’s Day, i.e., 14th February 2022. The company wants this burn party to be historic and largest, and their goal is to burn 400 Million tokens. The company has already reported over 100 Million in the burn pot for Feb. 14th.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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