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Why are they burning Shiba Inu coin?
The burn is expected to reduce the total number of SHIB coins in circulation. At the moment, there are 589,736,561,989,744 SHIB tokens as the total supply. Shiba Inu’s founder, Ryoshi, revealed that the burn is expected to pave the way for the project to enter the metaverse space.
How many Shiba coins did Vitalik burn?
In May, Ethereum’s Co-Founder – Vitalik Buterin – burned 410,24 trillion Shiba Inu tokens which would now be equivalent to $27.8 billion. Additionally, he donated 50 trillion SHIB ($3.4 billion calculated at today’s prices) to India, struggling with the COVID-19 infection by that time.
Did they burn Shiba Inu coin?
Meanwhile, Connor praised the SHIB community and its other burning efforts, including the recent Shiba Burn Party, where 1 billion SHIB tokens worth 0.0000018 percent of the total circulating supply were destroyed.
Who burned Shiba coin?
Vitalik Buterin. When SHIB first launched, it had a supply of 1 quadrillion SHIB. Ryoshi, the creator of Shiba Inu, sent 50\% of this to the Ethereum founder. He subsequently destroyed 90\% of this, sending 410,241,996,771,871 SHIB to the dead address.
Who is Shiba Inu coin founder?
Ryoshi
Shiba Inu (cryptocurrency)
| Shiba Inu | |
|---|---|
| Original author(s) | “Ryoshi” |
| White paper | Shibu Inu Ecosystem |
| Initial release | August 2020 |
| Development status | Active |
When was Shiba Inu coin created?
Shiba Inu was created in August 2020. Earlier this year, billionaire entrepreneur Elon Musk threw his weight behind Dogecoin, a meme coin that was launched as a joke on the rise of Bitcoin in 2013.
What does it mean when crypto is burned?
Coin burning happens when a cryptocurrency token is intentionally sent to an unusable wallet address to remove it from circulation. The address, which is called a burn address or eater address, can’t be accessed or assigned to anyone. Coin burning reduces the supply, making tokens of that cryptocurrency scarcer.