Steven Cooper, owner of Even larger Entertainment, the first cryptocurrency record label, accepts Shiba Inu (SHIB) for music, merchandise, event tickets, and NFT and then burns these coins.
Yesterday, he tweeted that his team expects to double their SHIB burn rate over the next sixty days.
Shiba Inu burn rate (SHIB) doubles in next 60 days The event is scheduled for the next day after Christmas, on December 26. Cooper added that his team is looking for new ways to activate SHIB, saying they are really just getting started.
Earlier this week, Cooper said that his team would burn one billion SHIB on December 13 if 7,500 owners spend $5 at the Greater Amusement to buy a ticket to the burning party.
On Monday, December 13, the amount raised was 13% of the total. So far, in December, his team has burned 7 million SHIB. According to Etherscan, 7,039.297.46717959 SHIB tokens were sent to null address (0xdead000000000000000042069420694206942069).
More than 2 million SHIB has been sent to this address, i.e. burned. When coins are burned, they are permanently removed from circulation. Often it contributes to the increase in the price of the coin. However, even though the community burned through 2 billion SHIB in November, the token continues to trade in the $0.000032 range.
< Source : AZcoin >