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Shiba Inu Valentine Not Over Yet, 500 Million Shib Burn Coming Today, Over 306M Shiba Tokens Burned In 24 Hours

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Shiba Inu burning is now becoming mainstream and part of the Shib ecosystem.



Shibburn recently reported that within the past 24 hours, over 306 million SHIB tokens were taken out of circulation forever with the help of 30 transactions.  To be precise, this figure is massive and equals 306,104,347.

Looking into Shibburn.com, we found that in the last 24 hours, the burn rate increased whopping 614.31% compared to the previous day.

Burn Party organized by Bigger Entertainment on 14th February is responsible for this surge in the burning rate. According to Steven Cooper, the company owner, they have burnt 240 million SHIB tokens during the party.

Besides this Burn Party, Bigger Entertainment has already sent 131 million SHIB Tokens to the dead wallet during the past week, with their other burning campaigns already in play, including Merchandise sales, Music Playlists, etc.

Steven Cooper appreciated the Shiba Inu Community (aka Shib Army) and feels grateful to them as he believes he cannot achieve these big goals without their contribution.

On February 15, the maker of Brick Buster, the game available to play on the Google Play Store, will burn another 500 million SHIB tokens in collaboration with Shib Army.

At the time of writing, Shiba Inu (SHIB) is trading at $0.00003057, up 5.28% for the day. However, the 24-hours trading volume for the token is standing at $1,529,634,985.19.

Yesterday, Shiba Inu Flipped Polygon To Become Most Traded Token by 1000 Biggest ETH Wallets. Also, Whales showed their Hunger For Shiba Inu, as Crypto Whale Bought 139 Billion Shib Worth $4.2M.

The dog-themed cryptocurrency is a direct replica of Dogecoin and was immediately classed as a meme coin when it launched.  Launched in August 2020 by Shytoshi Kusama, Shiba Inu was referred to as the Dogecoin killer by the SHIBArmy, a title given to the cryptocurrency supporters.

Since there was no clear use case for the coin, the crypto community quickly added it to the meme coin list, with many believing that the asset class would eventually die a natural death soon. But Shiba Inu Community Rejects Memecoin Title, In contrast to the description of Shiba Inu as a meme coin, the cryptocurrency has transitioned from being a coin with no real use case into one of the most disruptive asset classes in the crypto market. 

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Zabi
Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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