Prepare for a monumental event in the world of cryptocurrency as the esteemed community member known as “1c Dream” gears up to eliminate 100 million SHIB tokens in a massive Shiba Inu burn today.
As per several announcements, the significant SHIB burn is scheduled to take place today, June 13, at 18:00 EST (22:00 UTC). Renowned Shiba Inu supporter Casey Stubbs has verified this news, stating that the burn will be happening live.
During the event, 1c Dream will showcase the transfer of the 100M SHIB to the Shiba Inu dead wallet in real-time, effectively taking the tokens out of circulation permanently. Interested individuals are encouraged to join a Telegram channel for further updates.
With each SHIB unit priced at $0.00002153, the total value of the 100M Shiba Inu tokens amounts to $2,153.
This upcoming burn is anticipated to significantly increase Shiba Inu’s burn rate. Data from Shibburn indicates that the burn rate has decreased by 93.67% in the last 24 hours, with only 14.78M SHIB, valued at $318, being destroyed during this period.
Furthermore, this imminent transaction is expected to be one of the most substantial individual burns for Shiba Inu in recent times, as the volume of burns has decreased significantly in the past few weeks. The community recently burned 271,470 SHIB and 7.9M tokens on June 10 and 11, respectively. However, the burn campaign gained momentum yesterday, witnessing the incineration of 232M SHIB in various transactions, including one with over 225M tokens.
Given that only 14.78M SHIB has been burned so far, 1c Dream’s upcoming burn could potentially push the total tokens destroyed today to over 100M.
The significance of this upcoming burn event lies in the potential to inspire other community members to participate in the ongoing campaign to reduce Shiba Inu’s circulating supply through burns. This could ultimately boost the asset’s demand and price in the long term.
Out of a total supply of 1 quadrillion, over 410.72 trillion SHIB tokens have been burned, leaving the cryptocurrency with a circulating supply of 589.27 trillion, still representing a substantial amount.
Please note that this content is for informational purposes only and should not be construed as financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.
