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HomeCrypto NewsShiba Inu Advocate Spends 1.53 million Shib in Fees to Burn 1...

Shiba Inu Advocate Spends 1.53 million Shib in Fees to Burn 1 SHIB

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Shibburn, a SHIB burn tracking service, revealed in a tweet on November 28 that it had burned one complete SHIB valued $0.000009015.

As Shibburn acknowledges, the value burned seems ludicrous and small, yet the burn tracker sees value in the transaction. The burn tracker tweeted that the transaction will increase website clicks: “It’s all kicks and giggles, but every visit to these transaction pages on the Shibburn website help with even more burns.”

Read more: Shiba Inu Listed On Bitcastle Exchange With Bonus Campaign

Fxcryptonews examined the transaction’s specifics and found that it cost 0.010742491880203624 ETH, or $13.79 in fees at the time, and was worth around 1.53 million SHIB.

It is important to note that Shibburn is still one of SHIB’s top burners despite this odd transaction. Surprisingly, according to a recent report, it ranked first among SHIB burners for the month of November, burning 127.82 million SHIB.

The article claimed that community members burnt about 666 million SHIB in just November. 

It’s important to note that in April, Shiba Inu opened the burn portal. The token’s initial supply was 1 quadrillion SHIB, but its developers emphasised that it was made more scarce in response to community requests to raise its value.

It’s important to note that Shiba Inu launched the burn portal in April. The token’s initial supply was 1 quadrillion SHIB, but its creators emphasised that it was created in response to community requests to make it more scarce in order to increase its value.

According to data from shibburn.com, over 410 trillion SHIB have already reached burn addresses, amounting to approximately 50% of the total initial supply. Currently, there are 589 trillion SHIB available, of which 562 trillion are in circulation.

Despite the incredible accomplishment the community has made in lowering the token supply, it is important to note that SHIB has been unable to match its parabolic price rise from the previous year. It is currently trading at $0.000009246, a decrease of 0.21% from the 24 hours.

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