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Almost 60 Billion Shiba Inu Tokens Burned Since Portal Launch

Published 05/26/2022, 11:43 AM
Updated 05/26/2022, 12:00 PM
© Reuters. Almost 60 Billion Shiba Inu Tokens Burned Since Portal Launch

  • According to the ShibBurn website, more than 22.2 billion SHIB tokens were burned.
  • Twitter (NYSE:TWTR) user Shiba Archives confirmed that 60 billion SHIB we burned since the portal launched.
  • This SHIB burn already seems to have a positive effect on the meme coin.

The number of Shiba Inu (SHIB) coins in circulation is on the decrease, thanks to a new burning portal that has been in place since April.

According to the ShibBurn website, more than 22.2 billion SHIB tokens were burned in the previous seven days leading up to May 22, 2022. This amounts to around $279,281 worth of SHIB.

It is estimated that it took around 500 transactions to move this amount of SHIB. It also seems like the burn rate is steadily increasing.

In addition, Twitter user Shiba Archives shared in a tweet posted on May 26 that “we’ve burned 60 billion SHIB since the portal launched.”

This SHIB burn already seems to have a positive effect on the meme coin. More and more businesses have already started accepting Shiba Inu. Aside from this, thousands of restaurants in more than 60 countries will be accepting ...

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Latest comments

that's not very many. perhaps they could burn trillions?
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