15.43 Million SHIB Burned as Token Plunges 12%

article image

Yuri Molchan

Track live crypto price of 10000+ coins!

SHIB loses over 23 percent in the past week, but the SHIB army keeps destroying these meme tokens by sending them to dead crypto addresses

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

As the crypto market continues to fall with Shiba Inu losing roughly 12 percent in the past 24+ hours, over the same period of time almost 15.5 million SHIB have been burned.

The news was reported by the @Shibburn Twitter account, whose website aggregates detailed data on SHIB burn transfers from the etherscan tracker.

Related:  NFT Studios launches new film financing model
Image via Twitter

Tokens get “burned” by getting moved to wallets from which they cannot be spent or withdrawn, thus they are not included the circulating amount of the other tokens issued by the platform.

Meanwhile, the cryptocurrency markets continue to dive deeper in the red. In the last 24 hours, meme token Shiba Inu has lost approximately 12 percent, dropping to $0.0000231 by now.

In the past seven days, the Dogecoin rival SHIB has lost more than 23 percent of its market value.

At press-time, SHIB remains on spot 14 on the CoinMarketCap scale with the market capitalization of $12,613,387,270.

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: