There have been new developments for the second largest meme coin, Shiba Inu (SHIB). As the amount of SHIB in supply is gradually decreasing, the coin has started to be accepted as a payment method in various places. Here’s what happened in the SHIB ecosystem recently…
140 million Shiba Inu burned
As reported by Shibburn, the joint efforts of various cremation initiatives over the past 24 hours have helped move more than 140 million Shiba Inu tokens to dead wallets. 140.2 million SHIB burned According to a recent Shibburn account tweet, a total of 140,223,703 meme coins have been burned in the last 24 hours, meaning they are locked in non-spendable wallets. The purpose of burning coins is to make the SHIB rarer and thus try to push the price up in the long run.
In the past 24 hours, there have been a total of 140,223,703 $SHIB tokens burned and 25 transactions. Visit https://t.co/t0eRMnhnPL to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) July 16, 2022
So far, a total of 410,372,927,333,423 Shiba Inu have been burned out of the total supply in circulation, according to the SHIB burn tracker website. Despite this fact, the price remains 88 percent below the historic high of $0.00008845 per coin reached in late October last year. Currently, there are 557,989,334,995,503 SHIBs in circulation. According to the Shibburn website, the burn rate of the Shiba Inu increased by 136.7 percent as a result of the aforementioned burn.
SHIB investors can now pay for luxury yacht services
Shiba Inu and Dogecoin holders can now use cryptocurrencies to pay for luxury yacht services. This is evident as the use of cryptocurrencies increases in the yachting industry. Several top brokerages now accept crypto payments for buying and chartering yachts. The latest is Monaco-based Yachtzoo, which collaborates with cryptocurrency payment processor BitPay. Other cryptocurrencies supported by BitPay include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, XRP, Dai, Wrapped Bitcoin (WBTC) and stablecoins.
SHIB is on Radio Shack’s radar
RadioShack recently posted a poll on their Twitter account asking if they should accept the meme coin, tagging Shiba Army. Users gave positive responses. RadioShack, formerly RadioShack Corporation, is a retail company founded in 1921 by brothers Theodore and Milton Deutschmann as a supplier to the then burgeoning amateur radio field.
Over time, it has grown into a giant electronics retailer in collaboration with Tandy Corporation and currently operates stores in the United States, Mexico, United Kingdom, Australia and Canada. In addition to these regions, the retailer has licensed other companies to use the RadioShack brand name in parts of Asia, North Africa, Latin America and the Caribbean. After its bankruptcy and subsequent acquisition, RadioShack launched its own crypto exchange, Radio Shack Swap. He decided to jump on the cryptocurrency wagon. It also launched its native token called RADIO.
Whales keep the most Shiba Inu
According to data provided by WhaleStats, SHIB once again has the largest holding in USD terms among the top 100 ETH whales. According to statistics, the top 100 ETH whales are currently worth $544.4 million in Shiba Inu. This accounts for more than 23 percent of total holdings.
