An astounding amount of meme coins, namely 15,492,566 $SHIB, has been burned in total. The largest single amount of coins that was sent to unspendable wallets was 13,755,030 $SHIB. The second biggest of the seven burn transactions carried 800,000 $SHIB.
The weekly burns have decreased by 37.88%, with 81,938,935 $SHIB destroyed in total over the past seven days.
Overall, a massive 584,297,362,168,336 $SHIB remains circulating the market, while almost half of the initial quadrillion supply – 410,744,497,531,903 $SHIB – has been burned already. The more tokens are burned, the higher are odds that the $SHIB price will eventually skyrocket to $0.1 and higher. However, to achieve that price level, many $SHIB enthusiasts believe it is necessary to burn at least 90% of the meme coin’s supply.
$SHIB executive reveals harsh realities of crypto "Wild West"
Earlier this week, the official marketing expert of the $SHIB team famous under the pseudonym Lucie published a tweet to share some important information with the community. It was sort of a warning against the traps of building and investing in the cryptocurrency market.
Lucie warned that the market is “lawless, unpredictable, and full of both opportunity and danger” and only the sharpest can survive in it.
Per Lucie's tweet, the main underwater rocks here are unpredictability, volatility, and “the hype game”. However, the necessary qualities to survive are self-reliance and vigilance. Having a sharp mind, using observation, and having a good strategy is crucial. “Knowledge is your best defense,” she stated. It does not matter much if you are a $SHIB holder or support any other cryptocurrencies: “The rules are the same: Play smart, stay sharp, and never bet more than u can afford to lose,” Lucie concluded her message to the community.
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