9.25 trillion SHIB may be burned this month, a Shiba Inu representative said

An account with the Shiba Inu handle @ShibBPP shared a screenshot of a social media post made by @RagnarShiba, an admin of the Telegram group “Shibarium Tech.” Accordingly, the SHIB developer team may be ready to burn several trillion coins for the Shiba Inu in January.

In December and November, the SHIB team burned just over 36 billion SHIB, taking it from Shibarium transaction fees. Additionally, there is a new major upgrade coming this month, which is the likely reason for the aforementioned massive SHIB block that the team may be burning.

Trillions of SHIB may be destroyed in January; Upcoming burning upgrade

The 9.25 trillion Shiba Inu that could be destroyed likely comes from the $1 million worth of bones the team reported in late November. This US dollar is equivalent to 101,522,842,639 SHIB coins.

Just over 36 billion of the 101.5 trillion have been transferred to non-spendable blockchain addresses so far in four transactions, each carrying over 8.5 billion SHIB.

Afterwards, Chitoshi Kusama rejected any thoughts of burning not only the Shiba Inu but also the BONE tokens, so the entire $1 million fee would eventually be changed to the Shiba Inu and taken out of circulation.

Additionally, at the beginning of December, a blog article by the Shiba Inu team announced the coming era of automated SHIB cremation, starting in January. Until now, all SHIB destruction has been done by developers manually. This appears to be the main reason for the huge number of Shiba Inu coins expected to be burned – nearly 10 trillion. The article stated that the future of SHIB burns looks promising.

Aside from the change in “SHIB burn eras,” the article also teased the upcoming move of Puppynet (Shibarium’s testnet) from Ethereum’s Goerli network to Sepolia.

Reduced SHIB burns

According to data provided by the Shibburn platform, in the past 24 hours, the SHIB Army has purged 2,469,589 SHIB, sending them forever to unspendable wallets.

However, the burn rate was down 41.25% compared to the same metric, which was up 2,274% on Friday. On that day, nearly twice the amount of SHIB was burned – 5,203,527 coins.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many of its aspects. He has written for several crypto media outlets. His articles have been quoted by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keyser, etc.