Shiba Inu Developers Working on New Burn Mechanism as per Steven Cooper
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- Cooper urged people to get tickets for the next burn party on February 14th.
- Shiba Inu has been down 22.88% in the last 24 hours.
According to the owner of one of the firms that burn Shiba Inu tokens, the meme crypto’s developers are now working on new ways to burn the tokens. Nearly 110 million SHIB were destroyed over the course of the weekend, further reducing the quantity in circulation.
In a recent Twitter discussion, Bigger Entertainment owner Steven Cooper mentioned that SHIB developers are working on new mechanisms to create more ways to destroy SHIB—the second most popular canine crypto, also encouraged as a Dogecoin killer. Cooper owns the Bigger Entertainment crypto record label, regularly holding SHIB burn parties.
Earlier in the conversation, Cooper was urging people to get tickets for the next burn party on February 14th. Shiba Inu tokens will be purchased with the funds and burnt on Valentine’s Day. According to Twitter’s @shibburn account, close to 110 million Shiba Inu coins were transferred to a dead wallet over the weekend and can never be used or withdrawn.
2.5 Billion SHIB Burnt
Moreover, according to a newly built website that records SHIB burn transactions on etherscan, 18,340,447 SHIB have been burned in the last 24 hours. As of January 19th, the community has destroyed 2.5 billion SHIB tokens since December 1st, according to a report.
The price of Shiba Inu (SHIB) has fallen due to the unfavorable market conditions in the US stock market. Due to investors’ hesitation fearing risks, the cryptocurrency market is in danger of a terrible free fall. According to CoinMarketCap, the Shiba Inu price today is $0.000019 USD with a 24-hour trading volume of $2,028,488,032 USD. Shiba Inu has been down 22.88% in the last 24 hours.
Read More: Shiba Inu Price Prediction
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