Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
SHIB SHIB team and community destroy billions of tokens in one month
In the past month, the SHIB team and community destroyed billions of tokens. The revival of the destruction program coincides with a positive performance in the price of the self-proclaimed "dogcoin killer" tokens-its price rose by 10% over the same period.
Large-scale destruction, but there is a prerequisite
X account Shibburn revealed that more than 3.2 billion SHIBs were transferred to zero addresses in July and permanently withdrawn from circulation. This figure increased significantly by 1395% from June.
The amount destroyed in July may seem considerable, but in dollar terms, it was worth less than US$17,000. It is worth noting that large-scale destruction is only concentrated in a few days at the end of the month, and there is not much action in this regard during the rest of the time. For example, on July 27, teams and communities destroyed nearly 1.3 billion tokens, accounting for about 40% of the total for the month.
The core purpose of the SHIB destruction mechanism is to increase the value of tokens by reducing the supply of tokens and taking advantage of scarcity. However, there are still more than 585 trillion coins in circulation, and the remaining number is extremely large, which means that teams and communities need to step up their efforts to drive prices up.
Meanwhile, the meme coin has risen by 10% in the past 30 days, possibly driven by rising destruction rates and certain whale activity, according to reports.
Sixth Anniversary of Shiba Inu Coin
On August 1, this meme coin project celebrated its sixth anniversary. The SHIB army originally expected ecosystem updates or major announcements that day, but the team only outlined its journey of "moving from zero to global" and said that "experiments are still continuing."
Many X users sent birthday wishes to Shiba Inu Coin, but many also clearly expressed their disappointment at the recent lack of substantial progress and their regret that the price of native coins has dropped significantly in the past few years.
