SHIB Army Burns Close To 100 mn SHIB
The Shiba Inu meme coins have been transferred to dead-end wallets by the SHIB army as the week comes to a close.
The number of meme coins removed is almost 100 million, despite the burn rate being in the danger zone.
While the much-anticipated Layer 2 blockchain Shibarium has yet to launch, its lead developer Shytoshi Kusama assures the community that these are only short-term problems that can be resolved.
Shibarium’s price collapse led to a collapse in SHIB’s price as well, as the latter lost all of its gains from August.
The SHIB price has fallen due to the Bitcoin price collapse below $27,000. Almost 100 million SHIB have been sent for burning, with 97 mn transferred to “inferno” wallets in the last 24 hours. The overall burn rate is down 70.58%, with 21 million and 17 million SHIB being the two largest transfers since yesterday.
(With inputs from Shikha Singh)
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