Shiba Inu Community burns 50.76 million SHIB in a day.
Currently, a total of 12,871,772 SHIB tokens have been burned through two transactions in the last 24 hours. The Shiba Inu burn rate is up 60.30%, according to the Shibburn website.
According to Etherscan, more than 1.6 billion Shiba Inu (SHIB) tokens have been burned, equivalent to about $14,400 at the current price of $0.000009 per SHIB. This is an unprecedented move for a meme coin with a total supply of one quadrillion tokens.
Shiba Inu (SHIB) Burn Rate Skyrockets After 3 Billion Tokens Burned in Single Transaction. The Shiba Inu (SHIB) burn rate has skyrocketed by an insane amount after over two billion SHIB tokens were burned in a single transaction.
Over 15 Billion SHIB Burned in May 2023.
Shiba Inu Community has permanently removed a total of 15,369,335,177 (15.36B) SHIB from circulation in May 2023. This remarkable achievement was accomplished through 191 separate transactions, which saw the community's collective effort toward burning SHIB tokens.
But how many tokens need to be burned to generate a price of $1? All else equal, shrinking the supply to 7.5 billion tokens would theoretically result in a price of $1, based on Shiba Inu's current value of $7.5 billion.
Can Shiba Inu burn enough coins? At its current rate, Shiba Inu is not burning enough tokens. According to shiba burn tracker, roughly over a quarter million SHIB is burned every day. SHIB holders will have to burn more tokens before the price changes significantly.
The current circulating supply of Shiba Inu is 589.34T. This is the total amount of SHIB that is available.
He eventually burned 90% of the tokens and donated 10% to an Indian Covid relief fund. Because of this, the largest holder of Shiba Inu is a dead wallet containing the contents of his Shiba Inu burn. The wallet holds 41% of the SHIB supply and has been topped up by further burns.
Shiba Inu, the dog crypto, burned close to 200 million coins within the last 24 hours.
According to a hypothetical burn computation, the Shiba Inu could burn 111 trillion SHIB every year with help from ShibaSwap, Shibarium, and virtual land renames. Shiba Inu (SHIB) may have seen its most ambitious price forecasts yet, as a community member recently posited that the asset could rally to $1.
At a price of $0.01, SHIB would have a larger market capitalization than the three largest companies in the world combined. Therefore, we would say that Shiba Inu is unlikely to reach 1 cent at current level of circulating supply.
Burning Shiba Inu to $1 is over 25 years away
Burning 90% of the original supply would leave $100 trillion SHIB tokens in circulation.
It may seem valuable, considering its market cap, but its value is only entertainment-based. Keeping this in mind, it would not be wise to invest too much of your money in shib. The shiba inu crypto may help you make a quick buck, but it is not a reliable long-term investment.
In order to stake SHIB, you will need to connect your cryptocurrency wallet containing SHIB tokens to Shiba Swap and it supports Metamask Wallet, Coinbase Wallet, etc. You can buy SHIB from a centralized exchange and transfer those to your Metamask or Coinbase Wallet.
A dad has explained how he became a millionaire in just six months after making a risky $8,000 bet on Shiba Inu. The former supermarket warehouse manager named Rob has been able to retire at the age of 35, after investing in the popular meme coin.
Binance becomes the biggest holder of Shiba Inu (SHIB).
The development comes after Binance made the highest and best bid to acquire the bankrupt cryptocurrency broker Voyager's assets for over $1 billion. As reported earlier by The Crypto Basic, Voyager Digital was holding total assets worth $579 Million.
The all-time high of Shiba Inu Pay is $0.0000000027.
To reach 1 cent, Shiba Inu would have to increase in price by a factor of 1111. Assuming a 50% burn rate and continuing with the current development plans, SHIB can reach $1 in 31 years.
Current value of 2000000 SHIB in USD is 14.39 USD
This is the real-time data fetched from our partnered price aggregators. At the moment, you are looking at the conversion of 2000000 SHIB when 1 SHIB is valued at 0.0000072 USD.
The Shiba Inu is a double-coated dog with a plush, soft 'undercoat' and a coarse, straight 'overcoat'. Double-coated dogs, including Shiba Inus, typically shed heavily twice a year. This is when they famously "blow their coat" off. The heavy shedding lasts for roughly three weeks.
By burning SHIB, they can help cut down the number of tokens out there, which might lead to an increase in the value of the remaining ones. But keep in mind that there's no surefire guarantee that burning SHIB will increase the token's value.
Key Points. Coin burning reduces a cryptocurrency's supply by permanently removing coins from circulation, similar to stock buybacks, potentially impacting market price. Coins are burned by sending them to an inaccessible wallet, regulating total supply.
The SHIB burn rate surged 8,627% over the past 24 hours compared to the previous day. The burning process was completed through two transfers: the burn of 39,511,911 and 10,676,779 SHIB tokens. Cumulatively, the community moved about 3.09 billion SHIB tokens to the dead wallet within the past week.