Okay, little buddy! Let’s talk about a special kind of money on computers called “crypto.” There’s one called Shiba Inu, or SHIB for short. It looks like a cute dog! Today, we’re going to learn all about something called “SHIB token burning.” It sounds like magic, right? Let’s find out what it means!
What is SHIB Token Burning?
Imagine you have a big box of crayons. If you take some crayons out of the box and put them away where no one can use them again, you have fewer crayons to share. SHIB token burning is kind of like that!
When people “burn” SHIB tokens, they take them out of the game forever. They send them to a special place called a “null address,” which is like a black hole for money. No one can ever get those tokens back. This is called “SHIB token burning.”
How Many SHIB Tokens Were Burned in November?
In November, which is the month before December, people burned a lot of SHIB tokens! Let’s look at the numbers from a special website called ShibaBurnTracker. ShibaBurnTracker data is like a diary that writes down every time someone burns SHIB.
Here’s what happened:
* There were 248 times people burned SHIB in November. That’s about 8 times every day!
* All together, they burned about 163 million SHIB tokens. That’s a really big number!
* The biggest burning day was November 26. On that day, over 60 million SHIB tokens were sent to the “black hole” forever.
Those numbers sound huge, but remember, SHIB tokens are worth very little money. So, burning them doesn’t make the price go up a lot right now. It’s like burning one small piece of paper from a huge stack—it doesn’t make the stack much smaller.
How Much SHIB Has Been Burned Since the Beginning?
SHIB token burning started in 2022. Since then, people have burned a super-duper big number: 410.75 trillion SHIB tokens! That’s so many it’s hard to even imagine.
Because of all this burning, there are now about 585.26 trillion SHIB tokens left for people to use. That’s still a lot, but it’s less than there used to be.
So, you see, “SHIB token burning” is a way to slowly make fewer SHIB tokens exist. Some people think this might make the ones that are left more special, kind of like how a rare toy can be more valuable.
What About People Taking SHIB Off Exchanges?
There’s another interesting thing happening with SHIB. Some people are taking their SHIB off special websites called “exchanges.” Exchanges are like big online stores where people can trade their crypto.
When people take their SHIB off these exchanges and keep it in their own special computer wallets, it’s called “self-custody.” It’s like taking your toys out of the toy store and keeping them safe in your own toy box.
Right now, there are about 81.2 trillion SHIB tokens on exchanges. That’s the smallest number since 2021! This is a good sign because it means people aren’t in a hurry to sell their SHIB. When fewer people want to sell, the price might go up.
What Do People Think Will Happen to SHIB’s Price?
Some people who watch the crypto market are feeling hopeful about SHIB. One person on the internet said SHIB is one of the “strongest tokens” right now. They think it might get stronger soon, especially when a group of SHIB fans (called the “ShibArmy”) work together.
Another person even predicted that SHIB might reach a new highest price by the end of 2025! That would be amazing, but remember, no one can know for sure what will happen.
Right now, SHIB costs about $0.000008032. That’s a very tiny amount of money! It used to cost a lot more in 2021, but it went down a lot. So, while some people are hopeful, SHIB still has a long way to go to get back to its highest price.
FAQs
Q: What is a “null address”?
A: A null address is like a magic mailbox that no one can open. When you send something there, it’s gone forever.
Q: Why do people burn SHIB tokens?
A: People burn SHIB tokens because they hope it will make the ones that are left more valuable, kind of like how a rare toy can be worth more.
Q: Is burning SHIB tokens good or bad?
A: Many people think it’s good because it means there are fewer SHIB tokens to go around. But it’s not a magic trick that makes the price go up right away.
Q: What is the “ShibArmy”?
A: The ShibArmy is a group of people who like SHIB and support it. They’re like a team of friends cheering for their favorite player.
Q: Will SHIB’s price definitely go up?
A: No one knows for sure! Some people think it might, but the price of crypto can go up or down, and it’s very hard to predict.
Remember, if you want to learn more about how AI can help with cool things like this, you can check out AI Bot for amazing tools!
And if you’re curious about how big changes in the world of money work, you can read about Trump’s Crypto Upgrade.
Also, if you want to know how rules are made for crypto, check out SEC Crypto Enforcement.
🚀 Trending Crypto News
Conclusion
So, there you have it! SHIB token burning is when people make SHIB tokens disappear forever by sending them to a special “black hole” address. In November, they burned a lot—about 163 million! Since it started, they’ve burned over 410 trillion SHIB tokens.
People are also taking their SHIB off exchanges and keeping it safe in their own wallets. This is a good sign because it means they’re not in a hurry to sell.
Some people are hopeful that SHIB’s price might go up, but no one can be sure. The important thing to remember is that “SHIB token burning” is one way people try to make SHIB more special by having fewer of them around. It’s like making a rare sticker by tearing up a bunch of copies!
Leave a Reply