Recent data from Etherscan shows that 5.6 million SHIBs have been burned in the past twenty-four hours, but 22 times that amount has been destroyed in the past few days.
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- Over 125 million SHIBs were burnt in the last 5 days
- SHIB unlikely to rally in 2022, believe top analysts
The Twitter account @shibburn which shared links to Etherscan showing the recently destroyed Shiba Inu meme coins has reported that in the past twenty-four hours, 5.6 million SHIB have been taken out of circulation.
However, in the past five days, the amount of SHIB burned is now 22 times greater than that.
Over 125 million SHIBs were burnt in the last 5 days
According to Etherscan, there have been about fourteen transactions sending a total of over 125 million SHIB tokens to a dead wallet, from which no one will ever be able to withdraw or spend them.
The largest of them contained 100,000,000 million SHIB and was created five days and eleven hours ago.
According to Twitter user @shibburn, 5.6 million tokens have been burned through six transfers in the recent twenty-four hours. User SHIB reminds the military that out of the initial supply of 1 quadrillion, 410,300,521,864,319 SHIB have been taken out of circulation so far.
A total of 5,623,812 in the last 24 hours. have been $SHIB Token burn and 6 transactions. So far total 410,300,521,864,319 #shib Tokens (41.03005%) have burned out from the initial supply of 1 quadrillion. #shibarmi
— shibburn (@shibburn) 1 January 2022
As reported by U.Today earlier this week, NowPayments, the non-custodial platform that processes cryptocurrency payment transactions, said it plans to add a feature that can be used by merchants to burn SHIB tokens. can be done for.
SHIB unlikely to rally in 2022, believe top analysts
According to senior currency strategist at IG Group subsidiary DailyFX, Christopher Vecchio, the year 2022 which has just begun is unlikely to be lucky for meme cryptocurrencies, such as Dogecoin and its rival Shiba Inu.
Notably, as he put it, he would be very surprised to see the rally of these two coins and assumed that only Elon Musk would be able to save them by tweeting about these cryptocurrencies.
Vecchio believes that the Doge, SHIB and other meme coins are about to fall “deeper and deeper”. However, he also took a bearish stance on bitcoin, stating that the major crypto is facing a “trust crisis” at the moment.