Data shared by Shibburn's Twitter account shows that the SHIB community has destroyed 16,444,334 SHIB tokens in the last 24 hours, thus removing them from circulation. That amount of cryptocurrency was transferred in five transactions.
In total, 16,444,334 $SHIB tokens and 5 transactions were destroyed in the last 24 hours. Visit https://t.co/t0eRMnyZel to see the total number of #SHIB tokens burned, circulating supply, and more. #shibarmy– Shibburn (@shibburn) March 11, 2022
After reaching the 1 million milestone at the end of 2021, Shiba Inu has since added nearly 200,000 new holders. According to WhaleStats, Shiba Inu now has a total holder count of 1,197,035, reflecting this growth. The increase in the number of holders may not directly affect the token as far as market prices are concerned. However, from a primary growth perspective, this could be a positive sign.
AMC Theatres, the world's largest movie theater, has finally started accepting Shiba Inu after teasing the community for months. As U.Today reports, AMC was supposed to add support for canine coins on its website and mobile app on March 19, but that addition happened more than a week ago.
Community prepares for larger destruction event
As seen on the Bigger Entertainment website, the next burn party event "NFT Madness" is planned for April 3, with 600 million SHIBs scheduled to be burned. So far, 7,814,240 SHIBs have been added to the destruction pot. The last party took place on February 14, when 240 million tokens were burned.
The company began destroying SHIB in late October and since then has sent a whopping 1,414,967,476 tokens to dead wallets, removing them from circulation. Steven Cooper said earlier that Bigger Entertainment has inspired hundreds of other teams in the SHIB community to start destroying tokens in order to reduce the initial supply of 1 trillion and push up the price of the meme cryptocurrency.