Shiba Inu (SHIB), one of the most popular cryptocurrencies of recent months, continues to be traded in the crypto money market as the ‘Dogecoin killer’. SHIB, which is among the top 100 cryptocurrencies in terms of market volume today, is trading at $ 0.00033 as of the writing of this article.
In order for the value of the cryptocurrency to rise gradually, SHIB investors, as a community, resort to burning from time to time. One of these transactions, where SHIB investors removed a certain amount of cryptocurrency from circulation by sending it to an unused blockchain address, took place today.
Only $93 SHIB burned, discussion among investors
Steven Cooper, the founder of Bigger Entertainment, the world’s first crypto money-based music company, announced that they burned 2 million 750 thousand SHIB in his post in the morning. 2 million 750 thousand SHIB was equivalent to only $ 93.36. The burning of only $ 93.36 of the cryptocurrency, which has a market value of $ 18 million, naturally became the subject of waves of some investors.
On the other hand, Cooper also answered the questions of SHIB investors, “Why don’t you burn more?” Expressing that everyone told them to burn trillions of SHIBs, Cooper stated that the person who said this did not take on his own role and burn a certain amount of SHIB. With the last transaction, the number of SHIB burned by Cooper exceeded 889 million, that is, 30 thousand dollars.
Half of the initial total supply of SHIB, which entered the market in 2020, was sent to Ethereum co-founder Vitalik Buterin, and half was locked in Uniswap. Buretin donated some of the SHIB tokens, with the remaining more than 410 trillion SHIB out of circulation in May 2021. After this transaction, token burning became popular among SHIB investors.
There are 549 billion SHIBs in circulation today.
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