Recent data from etherscan shows that in the past twenty-four hours 5.6 million SHIBs have been burned, but 22 times that amount has been destroyed in the past few days.
- Over 125 million SHIBs cremated in the last 5 days
- SHIB not expected to rally in 2022, prominent analyst says
The @shibburn Twitter account which shares links to etherscan showing recently destroyed Shiba Inu meme coins reported that in the past twenty-four hours 5.6 million SHIBs have been taken out of circulation.
However, in the last five days, the amount of SHIB burned now totals 22 times more than that.
Over 125 million SHIBs cremated in the last 5 days
According to etherscan, around fourteen transactions were made to send a total of over 125 million SHIB tokens to a dead wallet where no one can ever withdraw or spend them.
The largest of them carried 100,000,000 million SHIBs and it was made five days and eleven hours ago.
As for the last twenty-four hours, over this period 5.6 million tokens were burned via six transfers, according to Twitter user @shibburn. The user reminds the SHIB Army that to date, of the initial supply of 1 quadrillion, 410,300 521,864,319 SHIBs have been withdrawn from circulation.
In the last 24 hours there have been a total of 5,623,812 $ SHIB burnt tokens and 6 transactions. To date, a total of 410,300,521,864,319 #SHIB tokens (41.03005%) were burned from the initial supply of 1 quadrillion. #shibarmy
– Shibburn (@shibburn) January 1, 2022
As reported by U.Today earlier this week, the non-custodial platform NOWPayments which processes cryptocurrency payment transactions, said it plans to add a feature that can be used by merchants to burn coins. SHIB tokens.
SHIB not expected to rally in 2022, prominent analyst says
According to Christopher Vecchio, senior currency strategist at IG Group subsidiary DailyFX, the year 2022 is unlikely to be a lucky year for cryptocurrencies, such as Dogecoin and its rival Shiba Inu.
In particular, as he said, he would be very surprised to see these two coins come together and assumed that only Elon Musk would be able to save them by tweeting about these cryptocurrencies.
Vecchio believes that Doge, SHIB and other coins will fall “deeper and deeper.” However, it is also bearish on Bitcoin, stating that the flagship crypto is currently facing “a crisis of faith”.