Shiba Drops 27%; Burning Another 75.8 Million Tokens Doesn’t Help Maintain Price

The Twitter account @shibburn has spread the information that another big amount of Shiba Inu tokens has been “burned” in the last twenty-four hours – 75,828,000 tokens.

Despite the great amount in crypto, it is only worth $1,448 in US dollars. Thirteen transactions were used to burn (transfer to an unspendable wallet).

Shiba Inu has a startling initial supply of one quadrillion. 41.03014 percent of it has now been consumed by fire.

A million SHIB was later paid to the dead wallet, according to the same Twitter account.

However, this does not assist the coin’s price recoup and surpass its all-time high of $0.00008845 set in October.

At the time of writing, the token was down roughly 30%, trading at $0.00001958. (having shown a tiny rise from the price in the screenshot). On CoinMarketCap, the coin has likewise dropped to 16th place.

Shiba Inu engineers are working on new ways to get these meme coins out of circulation, according to Steven Cooper, a notable SHIB community member whose business participates actively in burning SHIB during frequent burn events.

On January 20, the total number of SHIB holders reached a new high of 1,150,173.

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