It’s a new year in cryptocurrency and Shiba Inu ($SHIB) HODLers are starting with a great first step into 2023. The goal to make the coin valued at least half-a-cent allegedly relies on token burning and the Shibarium, layer 2 technology’s launch. Loyalists of the coin, Shibarmy, are taking their half of the work seriously. On January 1st of 2023, a single person burned over 147-Million Shiba Inu alone, setting the year’s record.
The exact sum — 147,941,583. The value of the tokens at the time of burning US$1217.56.
More Than Average American Can Afford
This may not seem like a lot to some but it is. The staggering sum of tokens is nearly a 4th of the median banking account balance of United States citizens. In layman’s terms, the average person can’t afford to own, much less burn, $1217 of Shiba Inu tokens.
This could mean the person who burned these coins has more financial savvy than the average US consumer. Hopefully it’s an indicator that more smart money is holding onto the token.
Secondly, the large amount becomes the immediate record for ‘most $SHIB burned by a single person’ for the new year, 2023.
Smaller burns of 1 to 2-million tokens have been done. One user even burned 31-million coins today, January 2nd. But none have burned hundreds-of-millions of SHIB tokens in some time.
On the 31st of December, last year, another $SHIB HODLer burned 86,878,748 tokens. However, this is nearly 43% less than the new single-burn record for 2023.
Only 204,820,272 tokens have been burned to date in the new year.
Who made the record SHIB Burn transaction?
It’s not clear who gave the Shib Army this spark of energy for 2023. The wallet of the user is quite active however with recent transactions of $BONE and $LEASH as well. Likely a member of the Shib Inu Army as well.
The cost of the massive 147-M transaction to the ‘dead wallet’ was only US$0.58 or 15.992985728 Gwei (gas). It took 8 seconds to complete
It will be interesting to see if another cryptocurrency holder has the coins to top the new single $SHIB burn record.