E Point Perfect

‘It Will Take More Years and Nothing Will Change’


article image

Yuri Molchan

Major burn tracker rebuked by SHIB user about too small burns and slow progress in cutting down supply


Over the past 24 hours, the amount of Shiba Inu meme coins burned has dropped around 50%, according to prominent burn tracker Shibburn. The latter fishes the data on burn transactions from Etherscan and then publishes it on its website.

One Shiba Inu fan has rebuked Shibburn, and it is more likely that he reproached all of those individuals and entities that are burning SHIB tokens, for the fact that all the burns that have taken place so far in the past two years have not cut down the circulating supply enough for the price to surge.

“We will take more years and nothing will change”

Shib fan Babakura Alhaji Baba commented on the recent tweet from Shibburn about the sum of SHIB destroyed since yesterday morning. He stated that the SHIB army should be burning trillions or at least billions of Shiba Inu. Otherwise, he said, “We will take more years and nothing will change.”

This is an issue many Shib holders have raised on Twitter before, stating that the circulating supply of the meme coin must be reduced radically, otherwise there will be no price surge that every Shib owner looks forward to.

68 million SHIB burned in 24 hours

Over the period of the past 24 hours, according to the Shibburn website, the community of the second most popular meme coin managed to burn 67,695,630 SHIB so far, according to the recent update on the site. This is a roughly 50% drop from what was burned by yesterday morning — nearly 200 million meme tokens.

The majority of the aforementioned sum of SHIB was sent to dead wallets in three transfers, which carried 18,887,244 SHIB, 11,181,405 SHIB and, the most recent one, 30,151,901 meme tokens.

Overall, as reported by U.Today earlier, summing up the burns made in 2022, last year, slightly over 81 billion Shiba Inu coins were burned, i.e., locked in unspendable addresses. About one-tenth of that sum was removed by a burner that uses an Amazon affiliate program, “Shib Super Store.” According to a recent tweet by this platform, overall last year, they managed to burn 6,356,674,757 meme tokens. That amount of SHIB is worth $52,379.

Earlier today, this platform also sent 18,887,244 SHIB to a dead address. Overall, according to the Shibburn website, there are 562,831,210,664,608 Shiba Inu circulating in the market at the moment. A total of 410,384,283,359,102 SHIB from the initial supply of 999,990,978,489,935 SHIB has been burned by now.


Source link

Related posts

Hundreds of Millions of XRP Shifted, Mainly from This Troubled Exchange: Details

ADA 75% Bigger Than SOL as Solana Gets Flipped by Tron: YouTuber Ben Armstrong

BITI Bitcoin Short ETF Saw Massive 300% Inflows This Week, AUM Reaching 3,800 BTC

Shiba Inu (SHIB) Reaching Fundamental Resistance Level, Here’s What Might Happen Next

Metamask Warns of New Exploit, Here’s What It’s All About

Chiliz up 15%, Here Might Be Potential Reason for Rise