33.6 Billion SHIB Burned by Shiba Inu Team
Details: Shytoshi Kusamag
The official marketing manager of Shiba Inu Team, who prefers to call herself Lucie on social media, took to Twitter/X to spread the word about the fourth consecutive SHIB burn conducted by the
SHIB Team
Again, this time, they have moved a massive amount of meme coins out of circulation.
Announcing the fourth massive SHIB burn.
Lucy announced that another chunk of Shiba Inu meme coins have been moved into non-spendable wallets this month - $90,857 worth of SHIB 8,471,583,707
This is the fourth piece of SHIB to be moved from the circulating supply, and the third to be done this month. According to data provided by the Shibburn tracker, a total of 25,724,850,362
SHIB have been destroyed so far in December, with the burn rate jumping by a staggering 13,983.12 percent over the past week.
Overall, across the four burns, the Shiba Inu team has shed around 33.6 billion Shiba Inu worth $363,600.
A token burn is a strategy implemented in an attempt to reduce the circulating supply of a cryptocurrency by locking it in unspendable blockchain addresses. The aforementioned massive burns by the SHIB team were conducted using funds earned from Blockchain Layer-2 transaction fees on Shibarium. Gas fees are charged in shards,
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