Cryptocurrencies

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how many shiba inu tokens are there

As of May 2023, Shiba Inu (SHIB) boasts a vast total supply of 589,735,030,300,540 tokens, making its inflationary design evident.

Oct 15, 2024 at 11:41 pm

How Many Shiba Inu Tokens Are There?

1. Supply Overview
Shiba Inu (SHIB) is an ERC-20 token operating on the Ethereum blockchain. As of May 2023, the total supply of SHIB is 589,735,030,300,540. This vast number highlights the inflationary nature of the token's design.

2. Burning Events
Shiba Inu has implemented several burning events to reduce its circulating supply and increase its scarcity. Notable burnings include:

May 10, 2021: Vitalik Buterin burned 50% of the initial supply.
October 20, 2021: Over $1 billion worth of SHIB was burned by the community.
November 13, 2021: $2 billion worth of SHIB was burned through collaboration with companies like Newegg.

3. Current Burn Rate
The exact burn rate of SHIB varies based on platform usage and transactions. However, it is estimated that approximately 10 to 100 billion SHIB tokens are burned each month through various mechanisms, including:

Platform fees: Portions of transaction fees on platforms like ShibaSwap are burnt.
Purchase and burn actions: Individuals and organizations can manually purchase and burn SHIB tokens.

4. Future Supply:
Given SHIB's inflationary nature, the total supply is expected to continue growing over time. The community's burn initiatives and evolving use cases may lessen the inflationary pressure, but it is uncertain if or when a fixed supply level will be reached.

Conclusion
As of May 2023, there are 589,735,030,300,540 SHIB tokens in existence. Both the total supply and circulating supply are subject to change due to ongoing burns and the token's inflationary design. The community and development team continue to explore strategies to manage the supply and increase the value of SHIB for holders.

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