Exploring Shiba Inu’s (SHIB) Journey: 1,084 Days Since Vitalik Buterin’s Unprecedented 410 Trillion Coin Burn
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- Three years ago, Ethereum co-founder Vitalik Buterin executed a historic burn of Shiba Inu (SHIB) tokens, permanently removing 410 trillion tokens from circulation.
- This bold move, worth approximately $6.7 billion at the time, marked a pivotal moment for SHIB and the broader crypto market.
- Fast forward 1,084 days, and the crypto scene has significantly changed, with the SHIB burn having a lasting impact on the token’s perception and value.
Explore the lasting impact of Ethereum co-founder Vitalik Buterin’s historic burn of Shiba Inu (SHIB) tokens on the crypto market and the token’s value.
The Historic SHIB Burn
On May 17, 2021, Buterin decided to burn 90% of his SHIB holdings after being unwillingly gifted half of SHIB’s total supply. He sent them to a dead blockchain address, stating he did not want to be a “locus of power of that kind.” This act effectively reduced the total supply of SHIB by almost half. The remaining 10% of his holdings were earmarked for a charity, aligning with his values of supporting life-saving efforts with a long-term vision.
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