Leading memecoin Shiba Inu has burned over 21.1 million SHIB tokens in the last 24 hours.
This new update came from announcements made by a Twitter account that monitors the disposal of the meme coin. The account tweeted that over the last 24 hours, the highlighted 21.1 million SHIB tokens were burnt to a closed wallet.
The Shiba Inu team has showcased dedication to the SHIB project as it continues to burn the tokens at frequent intervals.
Shina Inu Latest Out-Circulation And SHIB’s Burn Frenzy
The Shiba Inu team continues to field frequent burns of the SHIB tokens globally, continuously shrinking the supply of the meme coin. In just the last 24 hours, over 21.1 million SHIB were taken out of circulation, 21,104,209 SHIB tokens, to be exact. The tokens were sent to secure wallets to burn them effectively.
The @shibburm account on Twitter broke the news to the community.
The Shiba Inu community has burned over 1.2 billion SHIB tokens in just the last three months. The shrinking of the second-largest memcoin supply is evidence of Shiba Inu’s team’s total commitment to developing the meme coin.
Shiba is widely known as the Dogekiller in the crypto community globally. It was reportedly explicitly developed to overthrow the number one memecoin, Dogecoin, hence the nick Dogekiller. Although the memecoin’s early emergency in the industry didn’t field any relevance, its successful and unprecedented bull run in early 2021 that saw it gain over 40 million percent in price value brought the canine coin into the limelight in the industry.
The Shiba Inu team undertook massive promotional campaigns last year. It utilized the continual out-circulation of its tokens to increase relevance and sustain the growth of the token as its smart contract strength increases.
SHIB tokens continue to experience burns as numerous transactions globally indicate SHIB transfers to closed wallets. A total of 410,300,790,125,771 tokens has been reduced from the pilot supply of 1 quadrillion Shiba Inu tokens @shibburn reported on Twitter on the 15th of January.
Shiba Inu’s team dedication increased the intrinsic value of SHIB tokens has showcased results. More than 41% of the initial SHIB supply has been put out of circulation.
On-Chain Dedicated SHIB Burn Tracker Set To Launch
Twitter SHIB burn reporter @shibburn also announced their on-chain launch post their SHIB burn announcement. According to their tweet, they have developed a new website that offers real-time on-chain tracking for SHIB burn that features an Etherscan gateway for confirmation.
The tweet said that the team hoped that uses in the community globally liked their new website. The tweet pointed out that the new links featured in their tweets allow access to the new website containing the full bio info each burn and the respective Etherscan link.
Users in the community that utilize Twitter have shown their support for the innovation. They replied in large numbers to the announcement tweet with some famous names in the community commending @shibburm efforts by quoted retweets on their own Twitter page.
SHIB HODLers At An All-Time High
Blockchain tracker and analytics service provider, WhaleStats has revealed that the crypto wallets hodling the SHIB crypto token have jumped to an all-time high (ATH) of 1,140,151.
SHIB’s fielded ATH is still behind stats featured by new altcoin sensation, BabyDoge, according to Whalestats. BabyDoge holders have now reached a total of 1,205,517. BNB Topdogs now own over $3,921,073 worth of BabyDoge.
Additional data sourced from Whalestats concluded that the top thousand Ether whales now hold approximately $1,618,039,118 worth of SHIB. This is equivalent to 51,797,443,284,681 SHIB tokens.