3.5 Billion Shiba Inu Supply Has Been Burnt In Last Two Months

It seems like Shiba Inu is getting ready to fly as more and more coins are being burnt by fans of the cryptocurrency. The whole memecoin craze has propelled Shiba Inu to become the darling cryptocurrency of Redditors and Twitter users.

In the last two months alone, 3.5 billion Shib tokens were burnt from supply. If you are not aware about what coin burns are, here is a simple way to look at it.

Shiba Tokens Burnt

Coin Burn is essentially the practice of destroying the coin so that it is not available for further and is wiped off the supplies. This is done by sending the coins to any forgotten or specialized wallets whose private keys are not accessible. This, in turn, removes the token from supply and helps boost the price of the cryptocurrency.

Out of 3.5 billion, 1 billion Shib token burn was contributed by the founder of first ever Crypto record label.

But guess what? This is not just it. The company is already planning the next burn party in 2022 and ShibArmy is more excited than ever.

Companies Burning Shib Supply

Similarly, a Canadian healthcare company Ask The Dr has come as a blessing to all the Shiba Inu investors. Recently, the company added Shiba Inu to it’s balance sheet and also announced that it would accept Shib as an official mode of payment.

The company also said it is working on a new app that will track the number of steps walked and on every 10,000 steps walked, it would burn a certain number of SHIB coins.

And finally, the healthcare company has promised to burn 1 billion more Shib coins but there are two conditions for this to happen. Taking to it’s official Twitter handle, the company said:

What do you think about the whole story? Tell us your thoughts in the comments.

Shaheer is passionate about living a life seeking un-ending knowledge, philomath, as you may think of him. He's a student of Finance and a keen observer of Business and Indian-Political scenario who takes pleasure to pen down his views and opinions on the same. As his guiding mantra to life, ‘Come what may , life goes on’ helps.

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