- Vitalik Buterin destroyed 90% of the SHIB sent to his wallet by creator Ryoshi in 2021.
- Shiba Inu Burn Statistics Tracker explains how Ethereum creators are fueling rallies with timely SHIB burns.
- SHIB burn rates dropped by nearly 40% overnight, while Meme coin prices are trending upward.
Back in 2021, Ethereum co-founder Vitalik Buterin received nearly 505 trillion SHIB from Shiba Inu project creator Ryoshi. Buterin donated 10% of his tokens to Covid-19 relief charities and sent 90% to a dead-end wallet address. Near community +V:JQSQ996
Shiba Inu’s burn stat tracker shares insights into how Buterin’s actions drove SHIB price increases in May 2021.
Vitalik Buterin’s SHIB token transfer could fuel stock market gains
Shibburn.com,Shiba Inu's The burn tracker informed the SHIB holder community in a recent tweet that Buterin’s SHIB transfer in May 2021 may have been ill-timed. Ethereum creator moved 90% of SHIB tokens received from Ryoshi into a dead-end wallet at a time when the token’s price was approaching $1.7 billion. Near community +V:JQSQ996
Burning 90% of SHIB tokens did not appear to have a significant impact on the meme coin’s price at the time. Near community +V:JQSQ996
However, the team behind Burn Tracker believes SHIB would be worth $6.7 billion following a similar move nearly two weeks before the transfer. Destroying or removing the value of SHIB tokens from circulation may have a positive impact on meme coin prices through supply and demand dynamics.
Buterin added a note to his transfer to charity and said he would prefer the creators of crypto projects donate to charity rather than provide him with a "center of power." Near community +V:JQSQ996
Shiba Inu prices are on the rise this week
Early Friday, Shiba Inu price climbs to $0.00000779. Meme coin is recovering from the intraday low of $0.00000725 on August 17. The Shiba Inu-themed meme token needs to erase losses from the past three weeks to recover to $0.00000993, the price at which developers SHIB announced the launch of layer 2 chain Shibarium. Near community +V:JQSQ996
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