One Billion Shiba Inu Coins Have Been Burnt By Bigger Entertainment To Date

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.

Shiba Inu has generated massive returns for its investors last year. As 2022 begins to catch momentum, the ShibArmy expects Shiba Inu price to rally as well. One major factor behind the slow rise in price is the high amount of Shib supply in the market. This can be countered by taking some supply out from the market via coin burns.

Burn Party Continues

Crypto Label Bigger Entertainment burnt 240 million Shiba Inu supply during Christmas. They promised to burn more tokens in 2022 and it seems like they are committed to their words.

Steven Cooper, an owner of Bigger Entertainment, recently declared that his company has sent another 2.80 million Shiba Inu (SHIB) tokens to the dead wallet. With this transaction along with other smaller burns this week, the company becomes able to burn a total of 1,012,508,035 SHIB since the launch of its burning campaigns on October 20th, 2021.

Steven Cooper, the founder of Bigger Entertainment took to his official Twitter handle to declare that his company has sent another 2.80 million Shiba Inu (SHIB) tokens to the dead wallet effectively burning them from supply.

‘Lets Burn Another BILLION’

“Another 2.8 Million #shib burned along with many smaller burns this week. This brings our total to 1,012,508,035 #shib burned since launching on Oct. 20th, 2021. Lets burn another BILLION during our next burn party! #shibarmy”

“And that’s a wrap!.. thank you to everyone in the #SHIBARMY for tuning in & watching! We were over 2,000 viewers deep! Hope you had as much fun as we did! Until next time! thank you #SHIBARMY”, Bigger Entertainment tweeted during Christmas burn party.

If you’re not aware about Coin Burns, it 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.

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

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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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