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Tuesday, June 18, 2024

240 Million SHIB Destroyed at Christmas, 880.9 Million Total Burn

239,600,144 SHIB was transferred to a null address and permanently removed from the circulation.

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Bigger Entertainment team has announced that during the burn party, which was broadcast live on their YouTube channel on Sunday, the amount of 239,600,144 SHIB was transfered to a null address and permanently removed from the circulation.

The company started burning Shiba Inu dog inspired – meme crypto tokens in October of this year, according to the Twitter handle of its founder, Steven Cooper. Bigger Entertainment sells NFTs, merch and event tickets and accept crypto as payment method, allowing the SHIB Army to contribute to the total amount of SHIB tokens to be destroyed.

Furthermore, users can listen to music tracks on the project’s website, thus also helping to burn the second-largest meme cryptocurrency.

On December 26, the last burn party was held, the video was streamed on YouTube, where 239,600,144 SHIB tokens ( worth $9,183 ) were burned, or sent to a “dead” address, from which these coins cannot be withdrawn or spent.

Initially, Cooper wanted to burn one billion SHIB coins and in several tweets encouraged the SHIB community to support that initiative by pitching in $5 each. However, his enthusiasm was not shared, and only approximately one-fifth of that was incinerated.

Overall, since October, Cooper has burned 880,983,100 SHIB tokens (worth  $33,741.60), Earlier, Steven Cooper tweeted that in the course of the next 60 days, the SHIB burn rate is going to double as the project has only just started exploring new ways of burning these meme tokens.


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