Ethereum co-founder Vitalik Buterin burned almost half of his Shiba Inu to reward generous holders of the Dogecoin clone. Burning SHIB worth a total of $6.7 billion, Buterin said:
“I’ve actually been impressed by how the dog token communities have treated the recent donations! Plenty of dog people have shown their generosity and their willingness to not just focus on their profits but also be interested in making the world as a whole better. I support all who are earnestly doing that.”
SHIB gained 146% after BINANCE said it would soon list the token on its platform. About a week ago, the DOGE imitator joined the top 20 cryptocurrencies on CoinMarketCap. At the time, the token increased 966% as it advanced from $0.000003 to $0.000032.
However, the SHIB bull run ended on 12th May after Buterin liquidated trillions of the tokens he was gifted. The ETH founder went further to donate the proceeds of the liquidation to charity. Buterin said he will burn the rest in his wallet and also give the proceeds into charity.
In addition, Buterin pleaded that people should stop donating more tokens to him as he does not want to appear as a “locus of power of that kind.”
SHIB is currently down 1.55% to $0.00001498.
