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Yuri Molchan

Over 211 million SHIB tokens will be burned after Christmas day by this team, while 720 million has been burnt in two days

Steven Cooper, founder and owner of Bigger Entertainment, has taken to Twitter to announce that his team intends to destroy 211,666,467 Shiba Inu meme coins on Dec. 26. This amount has been gradually growing from the start of December.

800 million SHIB short of burning one billion

On Dec. 13, the SHIB burn pot totaled 131,236,842 coins. It has grown slightly over 1.5x since then. Cooper also tweeted, suggesting that if 7,500 SHIB holders pay $5 each for a ticket to the burn party, the team would be able to incinerate a whole billion SHIB coins. That did not happen, it seems, so currently the amount of tokens to be destroyed on Sunday stands at close to 212 million SHIB.

This is just 800 million short of the initial target of one billion. The burn party will take place live on YouTube on Dec. 26 at 2 p.m. CST.

Cooper also summarized that after the SHIB held in the burning pot is sent to a dead address, that would add up to 868,049,623 burned by the Bigger Entertainment team since October of this year.

719.1 million SHIB destroyed over past 48 hours

Over the past 48 hours, according to etherscan, almost 720 million Shiba Inu coins have been sent to null address 0xdead000000000000000042069420694206942069 from various accounts. In the past 20 hours, 13.1 million SHIB have been destroyed.

On Thursday, U.Today reported that the SHIB price started going up after 706 million SHIB had been burned on that day. SHIB skeptics believe that taking into account the staggering total supply of SHIB, these tiny burns of the coin will hardly impact the price.

Image via etherscan

Current SHIB market data

At press time, SHIB is ranked 13th on CoinMarketCap and is up over 7% in the past 24 hours. The price sits at $0.00003839. The market cap of the coin at the moment is $21,248,008,167. The circulating supply of Shiba Inu is 549,063.28 billion, with the total equaling 589,735,030,408,323.

Fifty percent of the total supply was sent to Vitalik Buterin earlier by the project’s founder, and the Ethereum co-creator burned 90% of it. He donated the remaining 10% to a charity that helps relieve the aftermath of the current global pandemic.

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