Tuesday, January 31, 2023

A Massive 83 Billion SHIB Were Burned In 2022. Here’s What Will Happen Next!

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A Whopping 83 Billion SHIB Burnt, Here’s The Future

Amidst 83 billions of burnt SHIB, here’s what you can expect in 2023. 

According to B Burn Tracker, 83 billion Shiba Inu tokens were burned in 2022. At an annual arithmetic standard SHIB price of $0.000021. It equates to $1.74 million. Additionally, there were 83 billion SHIBs, or 0.014%, of the total token supply at the beginning of the year.

The data reveals that May had the highest rate of Shiba Inu token burning. It was approximately 31 billion SHIB ending up to a dead address. Besides, its noteworthy that Shiba Inu token values fell 41.82% . This marked their greatest monthly decrease of the year.

It is notable that, before this, the supply of SHIB tokens for burning originally increased before slowly decreasing month after month. In December, it barely topped 500 million tokens.

90% of the entire remaining stock, or 589.6 trillion SHIB, must be consumed in 83,018 years, according to the counter on the gateway website.

Contrary to popular belief, Shiba Inu tokens increase in value as they are burned more. As a result, the rate at which SHIB burns is largely influenced by the state of the global cryptocurrency market.

According to creators, the Shiba Inu ecosystem will soon feature new products, such as Shibarium. We anticipate that the Shiba Eternity game and the coveted protocol will speed up token burning.

John Williams
John Williams
I am John Williams, a content writer in the blockchain and crypto niche. I focus on creating accurate and informative content about cryptocurrency and blockchain technology. I have a degree in economics and finance experience and am skilled in various writing styles. My goal is to provide up-to-date and relevant information through accurate and objective writing.

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