Bigger Entertainment to Burn 240M SHIB; Over 132M in Dead Wallet

Meme coin Shiba Inu has taken a divergent turn where 131 million SHIB coins were directly sent to a dead wallet this week. Crypto entertainment firm Bigger Entertainment CEO Steven Cooper has tweeted a post announcing 240 million SHIB burning tomorrow.

Following that, mobile game Bricks Buster will also burn 500 million coins on February 15. This will amount to a total of nearly 1 billion burnt SHIB coins for the week by both companies. Meanwhile, Cooper is pushing for 2 billion for the next milestone.

SHIB has had a 0.53% surge in the past 24 hours, with a market capitalization of over $16 billion. Moreover, it ranks 14th among the top cryptocurrencies by market capitalization.

After the successful release of the SHIB Burner playlist last year, Bigger Entertainment rebranded itself as ‘The First Crypto Record Label’. In December 2021, Bricks Buster had burned 120 million SHIB coins.

The Shib Burner playlist includes Shiba Inu burning projects like the mobile game Bricks Buster and a coffee company named Shiba Coffee Company. Both these projects burn SHIB coins by playing the game and drinking coffee respectively.

Despite the aforementioned burn efforts, many other SHIB users are criticizing the burn, saying the amount is not enough and 1 billion is nothing against 549 trillion coins. In fact, 1 trillion coins must be burned weekly.

In response, Cooper added that initially, people thought the 100 million coin burn was impossible, but now they are close to the billion mark. The goal is to start burning by taking smaller steps before proceeding to huge coin burns in a week.