No Price Surge Even With Over 410 Trillion SHIB Token Burns
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- Shibburn reported that over 410 trillion SHIB tokens have been burned.
- Recently, SHIBA INU has been more widely accepted.
Shibburn, an account that keeps track of all Shiba Inu token burns, recently reported that over 410 trillion SHIB tokens have been burned. To increase prices, tokens are frequently destroyed or burnt to reduce the number of tokens in circulation.
Moreover, to begin with, 500 trillion tokens were delivered to Ethereum co-founder Vitalik Buterin, with the remaining 500 trillion tokens closed in UniSwap. This equates to 41% of the 1 quadrillion SHIB tokens available at launch. Moreover, community-led campaigns to burn tokens have had little or no impact on the market, with 549 trillion SHIB in circulation.
SHIB Is Trying Hard To Match Dogecoin
Dogecoin, which has over 132 billion tokens in circulation, is a considerable way ahead of SHIB. Furthermore, the ShibaSwap developers revealed a burning plan to lower the $SHIB and $LEASH supply on August 7, 2021. And SHIB investors reacted enthusiastically on social media to this news.
A total of $25,000 has been burned in $SHIB and $LEASH. And this coincided with the creation of two new ShibaSwap trading pools, PERL-ETH and RYO-ETH. Moreover, founder Ryoshi of SHIB suggested that the token burn is part of tokens’ attempts to move into the metaverse.
Recently, SHIBA INU has been more widely accepted. SHIB has just been integrated into Flexa’s Payment network. Thus, allowing it to be used in retail transactions. Furthermore, it was recently listed on Kraken and Gemini, among other exchanges. However, although SHIB has dropped 15.3% in the previous week, the stock has gained a phenomenal 34,988,291% over the course of the last year.
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