Shiba Inu Burn burned another 56 billion SHIB tokens

At the end of April, the developers of the Shiba Inu project together with Ryoshis Vision (RYOSHI) implemented a mechanism for burning native SHIB tokens. In the first day after the launch, 8 billion Shiba Inu were disposed of. Representatives of the company reported on the successful simultaneous destruction of another 56 billion coins.

The action was designed to reduce emissions and increase the value of the remaining supply of digital assets. In exchange for using this feature, users receive compensation in the burntSHIB asset, the storage of which is also paid for by an incentive in the form of 0.49% of the volume of all RYOSHI transactions.

At the moment, the network has a supply of 589 trillion tokens, eliminated – almost 411 trillion. In the ranking of market capitalization, the asset of Shiba Inu is located on the 14th stock with a total volume of over $ 6 billion Shiba Inu.

Users recorded last week the acquisition of SHIB by large investors. According to WhaleStats, the wallets of the 5,000 largest Ethereum whales currently contain SHIB for $ 663 million, on average, assets of $ 132.6 thousand are placed on each of them.

As of 20:00 on June 27, 2022, the SHIB rate was $ 0.00001101. Experts also noted the increased volatility of the asset, at the same time associating it with significant purchases of whales. The growth of the rate last week, on June 21, 2022 reached 45%, followed by a short correction of 20%. For the next seven days, the price again reached the peak value of the beginning of last week, and then over the past 24 hours again lost 7.5%.

Earlier, the editors of the Crypto.ru reported that the DeFi protocol of the Ethereum network called XCarnival was hacked by unknown criminals. As a result of the invasion, assets worth $ 3.8 million were stolen.