Shiba Inu owners may have seen their holdings drop in price, but community burns took advantage of these ‘sales’ to maintain a large burn rate, destroying 1.312 billion SHIB throughout January.
SHIB burning, the act of destroying Shiba Inu coins by sending them to a dead wallet address, has become a popular community activity among the ShibArmy. At its current price, the collective SHIB burnt this month totals $28,525.
Here’s a breakdown of the top SHIB burns this month.
SHIB Burns in January 2022
Across the three burning wallets, the Shiba Inu community destroyed 1,312,743,122.49 SHIB in January through 293 separate burns.
Of this total, the Bricks Burner mobile game contributed some 232,314,239 SHIB in the largest individual burn of the month. This was worth $7,180 on the day of the burn. Using the ad revenue from the game, its creator destroyed 17.69% of the total SHIB burn in January.
The second-largest individual burn came from Bigger Entertainment, which has now destroyed over 1 billion SHIB itself. This month, its largest burn on January 7 burnt 103,270,223 SHIB, worth $2,995 on the day.
While coming through 58 transactions, the collective Shiboshi NFT burns contributed over 109 million through name changes, costing 1,882,892.27 SHIB each time.
This total remains down from the 1.96 billion SHIB burnt in December, however. Regardless, SHIB holders remain positive for the future of burning, as many projects on the Shiba Inu Roadmap vow to include consistent burning mechanics.