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Shiba Inu on Fire as Nearly 13 Billion Tokens Burned in the Last 24 Hours -Breaking

by Mike Robinson

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Shiba Iguana on Fire, Nearly 13 Billillion Tokens have been Burned Within the Last 24 Hours

A month ago, Shiba Inu’s developer team introduced a new token burning tool ShibBurn. Users who choose to use a customized amount of SHIB coin are rewarded by the website.

A user can send SHIB tokens to their dead wallets and the meme cryptocurrency is removed from circulation. In a nutshell, the Shib Army’s main goals by encouraging such action are to trigger market price increase and fuel the need to buy coins.

A Wallet Can Store 10 Billion Coins

The current SHIB burning trend ignited a record – one unknown wallet set over 10 Billion SHIB on flames just yesterday (that’s about $124,000). Moreover, yesterday ShibBurn.com faced a massive increase in tokens burned – nearly 800% more. That’s so far the most successful day in the burning portal’s history.

Needless to say, it’s mostly fueled by the new reward system powered by RYOSHI. The RYOSHI token traded at $0.000000006147, after a slight rise of 1.9% over the previous 24 hours. RYOSHI is a new ‘decentralized, deflationary, community-driven token that has it all’, according to the official website. CoinGecko reports that Shiba Inu, (SHIB), has fallen 5.86% in 24 hours and is currently trading at $0.00001163.

Check out this article to learn more about the process of burning.

Is it a sign that SHIB and DOGE see record burning?

More than Half of the Shiba Inu Coins are Set Ablaze

There’s over 410,361 billion of SHIB tokens burnt already, TrackShiba reports. Besides, there’s a maximum amount of 1 quadrillion of Shiba Inu coins, meaning that 41% of it was set aflame already. Will this ignite a boost in Shiba Inu’s price? That depends on a couple of factors, but since Shiba Inu’s social following caught up with rival , it looks like Shiba stands a chance at surviving the ongoing crypto winter.

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