- Steve Cooper, CEO of Bigger Entertainment took to his Twitter account sharing how an entire trillion of the meme tokens can be removed from the supply forever.
- If one million holders start to send $30 tokens daily, it might result in the burning of one trillion SHIB, thinks the entrepreneur.
- Around 21 million SHIB burn was witnessed in the last 24 hours and more.
The CEO and owner of BIgger Entertainment, Steve Cooper recently shared his views on how it is possible to burn an entire trillion SHIB tokens quickly in the future. He shared this vision of his through his Twitter account. Bigger Entertainment is a U.S.-based crypto entertainment company.
How the Entrepreneur calculates the burning:
Unlike 20 million to 100 million Shiba Inu tokens worth $570 to $2,854 that get burned almost every day. One trillion SHIB equals $28,560,000.
Hence, Steve Cooper believes that the Shiba community or Shiba Army as it is commonly said should expand to almost twice, which means 1,170,000 holders should expand to two million. And also the Shib Army should hold tokens worth at least 294.5 million.
The CEO thinks that if one million holders initiate to send these meme tokens worth $30 every day, it will result in the burning of one trillion SHIB in total.
Burning is a term commonly used in the crypto industry which is a process of eliminating some amount of coins or tokens from circulation. This is done to create a deflationary event or for a reduction in the supply.
Usually to surge the value of the remaining tokens. It is done by sending the tokens to wallets from which they can never be retrieved. It is also referred to as destroying tokens.
According to data by Shibburn, the previous day has witnessed the sending of tokens worth around 21,234,881 million to dead wallets. These SHIB tokens were removed from the circulating supply.