- The fiat money equivalent of the burning that took place in the last 24 hours in the new trending meme coin of the crypto community, in Shiba Inu (SHIB) The number of burns that took place exceeded almost 50 times.
Actively Baby Doge Coin (BABYDOGE) 13.3 trillion BabyDoges in the last 24 hours, according to @babydogeburn_ Twitter user, which is a monitoring platform where the burning and monitoring platform can track the amount of BABYDOGE tokens burned by the BabyDoge community. was burned. The amount of this meme coin is valued at roughly $15,623 in fiat currency.
BabyDoge outperforms its competitors in token burns
For comparison, the Shibburn burn watch reported that during the same time frame, the SHIB military had burned 29,721,304 meme coins worth $338 at the time of this writing.
This amount is about 29 times less than the number of coins the BabyDoge team removed from circulation by sending them to dead wallets. As reported by KoinFinans in June, as a result of a vote by the BabyDoge community, the team managing the meme coin decided to burn a total of 50 quadrillion in this meme coin on the occasion of the cryptocurrency’s anniversary, just two days later, 6 quadrillion BabyDoge’ he was burned.
This massive BABYDOGE burn has been voted in, and as previously promised by the meme coin’s team, Baby Doge Coin eventually removed a total of 50 Quadrillion tokens worth $88,500,000 ($88.50 million) from circulation. This historic burning took place on 1 July.
While BabyDoge’s main platform is BNB Chain (formerly Binance Smart Chain), meme coins were burned on the Ethereum network.
Since then, the BabyDoge team continues to regularly destroy large volumes of dog cryptocurrencies. So far, 198,810,218,548,028,992 Baby Doge Coins have been burned, out of a total supply of 420,000,000,000,000 tokens, which means that 47,336 of the popular cryptocurrency has been removed from circulation.
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In the past 24 hours, 13,364,615,564,375 (~$15,623) #BABYDOGE tokens have been burned. So far, 198,810,218,548,028,992 #BABYDOGE tokens (47.336%) have been burned from the total supply of 420,000,000,000,000,000. #BabyDogeCoin #BabyDogeArmy @BabyDogeCoin— Burn BabyDoge (@babydogeburn_) September 27, 2022
Shiba Inu army burns 130 million SHIBA
As KoinFinans reported yesterday, on September 26, the burning rate of Shiba Inu increased by more than 1000 percent. During this 24-hour period, the SHIB army managed to burn around 130 million SHIB coins worth $1,430.
Today, however, the SHIB burn rate has dropped 77.23 percent as only 29,433,603 meme coins were sent to dead addresses. However, despite great efforts by both communities to burn tokens, this reduction of BabyDoge and SHIB from the circulating supply had no effect on the prices of meme coins.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.