Shiba Inu Breaks Another Burning Record As Deflation Trends In Crypto

Shiba Inu SHIB/USD broke another record after burning more than a billion tokens in a week with some help from Bigger Entertainment — an independent music publishing group and licensing agency.

What happened: Bigger Entertainment CEO Steven Cooper said on Dec. 22 the company planned to burn 176 million SHIB tokens Dec. 26 at its Christmas party. The firm pooled over 239 million Shiba Inu tokens and announced on Dec 26 that all the tokens were indeed burned.

Oer 1,140 million Shiba Inu tokens were burned last week with 692,937,338 tokens burned in a single transaction on Dec 23.

Last week can easily be considered one of the most notable weeks when it comes to Shiba Inu burning, with a number of tokens burned being 109% higher than the week before, with nearly 545 million burned tokens.

See Also: How to buy Shiba Inu coin?

Ever since Ethereum ETH/USD co-founder Vitalik Buterin burned as many as 410 trillion SHIB in May 2021, about 14.5 billion additional SHIB tokens were burned.

Price Action: As of press time, Shiba Inu is trading at $0.000036, after seeing its price increase by about 13% over the last 24 hours.