Shiba Inu Burns Nearly 10 Billion SHIB Tokens
Date: 2024-02-02 Author: Dima Zakharov Categories: BLOCKCHAIN
January 2024 has proven to be a pivotal moment for Shiba Inu as approximately 9.9 billion SHIB tokens were effectively taken out of circulation. This remarkable feat in token burning was announced by the analytical platform Shibburn, shedding light on the magnitude of this event.
According to the data provided, roughly 9,937,949,070 (9.93 billion) SHIB tokens were burned throughout January, sent to inactive wallets associated with the cryptocurrency. At the time of this publication, SHIB was trading at $0.00000889 per token, translating to an approximate value of $88,348 for the tokens burned in the previous month.
December's record-breaking burning of 36 billion SHIB tokens has surpassed the achievements of January.
The Shiba Inu community is advocating for an increase in the number of tokens being burned and is exploring the automation of Shibarium to address token scarcity and utility concerns.
