More than 5 million SHIBs have been burned in the past few days alone, but according to some investors in the SHIB community, this is still not enough to significantly increase the price of the meme cryptocurrency.
Over 5.5 million Shiba Inu meme tokens have been burned in the last 24 hours. On the other hand, daily SHIB burnings carried out continuously by the community had no effect on yesterday’s SHIB price increase.
According to the SHIB military, what is the amount of SHIB that needs to be out of circulation for the coin to launch?
According to the tweet shared by the Twitter account of shibburn.com, a monitoring platform where the Shiba Inu community can track the amount of SHIB tokens burned, a total of 5,648,676 Shiba Inu tokens were sent to a non-spendable wallet and destroyed in the last 24 hours.
In addition to the latest burning news, the post’s author reminds the community that just over 41 percent of the 1 quadrillion supply that SHIB has had from the start has been destroyed so far, which translates to 410,300,769,264,733 SHIBs.
However, in the comment thread, several users made sarcastic remarks about burning such small amounts of the token. One of them believes that at least 61-71% of the total supply must be destroyed to see significant Shiba Inu price action.
True that……. Only after 61-71% burn we can see some substantial price fluctuations…….
— hironmoy bhattacharyya (@hironmoy111) January 13, 2022
Robinhood Listing Rumors Boost SHIB By 20 Percent
On December 12, after several Twitter accounts published a rumor that the Shiba Inu would finally be added by the Robinhood trading platform in February, the price of SHIB rose initially 8 percent, then almost 20 percent to $0.00003240. reached until.
SHIB also lost 13th place on CoinMarketCap. repurchased its rank from Polygon’s MATIC token. The dog meme-inspired cryptocurrency that lost some of yesterday’s earnings is changing hands at $0.000029 at the time of writing.
3. Biggest ETH Whale Bought 59 Billion SHIB
As previously mentioned by KoinFinans, the third largest ETH whale known by the nickname “Light” bought 58,900,000,000 SHIB worth $1,906,592 during the transaction.
Looking at its overall situation, SHIB still holds the position of the largest USD value among the top 1,000 Ethereum whale wallets.
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.