The Shiba Inu (SHIB) community is celebrating a major milestone: the third anniversary of Ethereum co-founder Vitalik Buterin’s historic destruction of 410 trillion SHIB tokens.
This event, which occurred in May 2021, marked a pivotal moment in the cryptocurrency’s history, with its total supply significantly reduced from its initial quadrillion. In May 2021, Vitalik Buterin made headlines in the cryptocurrency world for destroying 410 trillion SHIB tokens (worth approximately $6.7 billion at the time). The tokens are part of a donation to Buterin from the Shiba Inu project, which sent him 50% of the total supply of SHIB. Rather than retain or sell the tokens, Buterin chose to permanently remove them from circulation, sending them to a dead wallet, a process known as burning. The 410 trillion SHIB destroyed represented 90% of the SHIB reserve reluctantly gifted to him by Shiba Inu founder Ryoshi.
Buterin did not stop at the destruction. The remaining 10% of SHIB tokens were donated to charity, demonstrating the philanthropic use of cryptocurrency and being praised around the world. On the third anniversary of the incident, the Shiba Inu community has not forgotten the impact of Buterin's actions. Today, the burning event is seen as a watershed in the history of Shiba Inu.
In a recent tweet, the Shiba Inu X official account highlighted Buterin’s historic burn: “Three years ago, Ryoshi burned SHIB to Vitalik Buterin, an act that etched Shibarmy into history. Now, our partner K9finance will burn 410 million KNINE on May 31st to pay tribute. The burn saga continues.” The legacy of the 410 trillion SHIB burn continues to impact the Shiba Inu project and the wider crypto world. Shiba Inu’s partner K9 Finance DAO will burn 410 million KNINE on May 31st to honor the Ethereum co-founder.
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