HUGE NEWS: 410 Trillion coins LESS in circulation now.
Founder Vitalik Buterin voluntarily burns 410 trillion Shiba Inu tokens - sending SHIB price up by 40%
5/17/2021 3:39:09 AM GMT
Following a recent Shiba Inu token dump, Vitalik Buterin decides to burn 90% of the remaining SHIB coins in his wallet.
After Buterin destroyed 41% of SHIB in circulation, the coin rose by 40% in value within an hour.
Positive sentiment increased around dog-based cryptocurrency as each individual coin is scarcer than before.
Shortly after donating $1.5 billion worth of Shiba Inu tokens to a COVID-19 relief crypto fund, Ethereum co-creator Vitalik Buterin destroyed over 410 trillion SHIB.
41% of SHIB tokens destroyed
Over the past week, cryptocurrency investors have witnessed the rise and fall of dog-themed tokens. One of the most prominent meme-based dog coins, Shiba Inu, has received massive traction as crypto exchanges, including Binance and FTX, rushed to list the digital currency.
Vitalik Buterin was gifted a great amount of canine-themed cryptocurrencies, as creators of the tokens believe that this process could legitimize and protect its circulation.
The Ethereum figurehead dumped a part of the dog tokens, pulling the rug on his canine-themed gifts last week. Buterin donated 50 trillion SHIB to the India Covid Relief Fund and transferred other dog coins to a fundraising platform.
The crypto billionaire destroyed 41% of the total Shiba Inu in circulation, by sending 410 trillion of the meme-based coin to a dead wallet address. The amount of SHIB burned equates to round $7 billion.
Along with the transaction, Buterin wrote a note for the SHIB community, stating:
I’ve decided to burn 90% of the remaining Shiba tokens in my wallet. The remaining 10% will be sent to a (not yet decided) charity with similar values to cryptorelief (preventing the large-scale loss of life) but with more long-term orientation.
News 
Market Data 
Discover 
