The burning of popular meme coin Shiba Inu (SHIB) continued in full swing in 2022. In this context, tens of billions of SHIB tokens went to burning wallets. What awaits the Shiba Inu in 2023 as this supply-decreasing activity continues?
83 billion SHIB burned in 2022, what’s next?
SHIB Burn Tracker reports that in 2022, 83 billion SHIB tokens went to burn wallets. That equates to $1.74 million over the annual arithmetic average SHIB price of $0.000021. It also accounted for 0.014% of the total token supply at the start of the year.
A closer look at the data shows that May had the highest SHIB token burn rate. It also turns out that over 31 billion SHIBs ended up in a dead address. Interestingly, SHIB price fell 41.82% in May, seeing its worst monthly drop of the year. Another intriguing finding is that the amount of SHIB delivered for burning prior to this time has been increasing each month, but has fallen, barely surpassing 500 million tokens in December. According to the meter on the Gateway website, 90% of the remaining stock, or 589.6 trillion SHIB, could be burned in 83,018 years.
It is difficult to definitively answer this question. Contrary to popular belief, the more Shiba Inu tokens are lit, the more valuable they are. As a result, the state of the global cryptocurrency market will largely determine the burn rate of SHIB. As you follow on Kriptokoin.com, the Shiba Inu ecosystem will soon have new items, including Shibarium. Its fans expect the game Shiba Eternity and the award-winning protocol to accelerate token burning.
Shiba Inu (SHIB) reaches two important milestones
The Shiba Inu has crossed two key levels that indicate its increased usefulness. That percentage delivered some excellent news to its community today. SHIB price fluctuates meanwhile with a succession of relatively modest red and green candles.
The second largest meme coin by market cap has now reclaimed the top spot among the top 100 Ethereum whales in terms of trading volume. The most popular token is UNI. stETH is also on its side. SHIB does not hold the title of the most actively traded cryptocurrency asset in recent times. The same can be said for the highest dollar valued token. As of this writing, these wallets are currently worth a total of $44,666,060. That’s 5,539,064,777.34, or just over 2% of their compromised portfolios.
Shiba Inu frequently held these positions this summer and before. But a lot has changed for this cryptocurrency since then. Especially the burn rate. In early autumn, the latter quickly fell. SHIB Army has removed nearly 80 billion meme coins from circulation this year. However, the Shiba Inu’s burn rate has decreased by more than 85% in the last day. Also, only 1,024,814 meme coins were held in non-spendable wallets.
Shiba Inu’s holder count has increased by nearly 2,000 in the last 48 hours. According to screenshots posted by the Shibaburned Twitter handle, SHIB Army’s rise reached a total of 2,600 people on December 28 and 29. However, according to the Shiba Inu page on the WhaleStats website, there are currently 1,275,166 SHIB users. That’s 1,000 more than one of the screenshots from yesterday showed.