In an hour, 103.270.223 Shiba Inu (SHIB) were burned.
Twitter account Shibburn tweeted that a total of 103.2 million SHIB was burned in a single transfer. Bigger Entertainment owner Steven Cooper announced that his team burned the mentioned SHIB tokens.
https://twitter. com/iamstevencooper/status/1479606792216887305
Bigger Entertainment is a crypto record label that allows musicians to donate 20% of their royalties to buy SHIB, which will then be burned. The company is also known for selling NFTs at music events. Some of the profit from these goes to the purchased SHIB for destruction.
The company launched its SHIB burning campaign in October 2021 and has since burned nearly 1 billion SHIB.
According to data from Etherscan, nearly 150 million SHIBs have been destroyed in the last five days. The amount of SHIB burned so far has reached 410.3 trillion. This equates to 41% of the initial SHIB supply.
Other Companies Burning SHIB
There are several other companies involved in the SHIB burning campaign. One of them is Shiba Coffee Company. The company buys SHIB with 100% of its profits and burns 10% of them.
Vibe Maquillage, a cosmetics brand, burns 15% of its earnings in SHIB.
Markilen, Precious Paws, Cryptoon Network and Shiba Search are also among the companies that burned SHIB.