1.32 Billion SHIB Destroyed in January: Bigger Entertainment CEO Reveals How SHIB Can Get to $0.01

Through January, when price decline dominated the news, Shiba Inu continued on its path of making the SHIB a deflationary asset by burning or destroying SHIB tokens.

Throughout January, when price declines dominated the news, Shiba Inu continued on its path of making SHIB a deflationary asset by burning and destroying SHIB tokens.

According to the official tracker of Shiba token burns, ‘Shibburn,’ 1,321,145,209 SHIB tokens have been destroyed across 293 different transactions. Shibburn reported;

Shiba Inu’s January concluded by destroying 56.6 million SHIB tokens in 11 transactions, bringing the total amount of SHIB burnt since the start of December to 3.393 billion SHIB tokens.

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Since Ethereum’s Vitalik Buterin introduced token burning to the Shiba Inu project, 410,301,843,009,529 (41.03018%) tokens have been destroyed from its initial supply of 1 quadrillion.

On the Flipside

  • January’s burn of 1.32 billion SHIB tokens represents a decline of 36.37% from December when 2.07 billion SHIB were destroyed. 

How SHIB Can Reach $0.01

While increasing from its current price of $0.000022 as of this writing to $0.01 may be a fantasy for many, the owner of Bigger Entertainment, Steven Cooper, believes that the dream in fact become a reality.

Cooper assured the Shiba Army that Bigger Entertainment would focus on bringing people – whether they are familiar or unfamiliar with crypto in general – to help destroy SHIB tokens.

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According to Cooper, besides burning SHIB, entertaining people is the way to boost the price of SHIB to $0.01. He tweeted:

Why You Should Care

Shiba Inu hopes to increase the price of its SHIB tokens by reducing the amount of SHIB in circulation and adding utility to its network.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia