SHIB Lao Doc 27%; Burning 75.8 Million Other Tokens Doesn't Help Keep Price

SHIB plunges 27%;  Burning another 75.8 million tokens does not help keep the price

Twitter account @shibburn spread the word that in the past 24 hours another large amount of Shiba Inu tokens were removed from circulation by “burning” – 75,828,000 tokens.

Despite the impressive amount in crypto, it is worth much less than the USD – just $1,448. The write (transfer to an unbelievable wallet) was done in thirteen transactions.

The original Shiba Inu supply is an incredible quarter. Now, 41.03014 percent of it has burned.

Later, the same Twitter account reported, another million SHIB was sent to the dead wallet.

However, that did not help the coin’s price recover and surpass the October all-time high of $0.00008845.

At press time, the token is down nearly thirty percent, trading at $0.00001958 (which has shown a small increase from the price in the screenshot). The coin has also returned to 16th place on CoinMarketCap.

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Image via CoinMarketCap

Overall, as U.Today previously reported, since December 1, more than 2.5 billion Shiba Inu have been destroyed with over 428 million SHIB burned over the weekend. By the way, according to a well-known member of the SHIB community, Steven Cooper, whose business is actively involved in burning SHIB during regular burning parties, Shiba Inu developers are working on new ways to get these memes out of circulation.

On January 20, the total number of SHIB holders hit a new record, reaching 1,150,173.


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