Cryptocurrency Q&A
How many null addresses are used to burn Shiba Inu coins?
How many null addresses are used to burn Shiba Inu coins?
Bianca
Thu Jul 11 2024
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6 answers
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As a cryptocurrency enthusiast, I'm curious to know the extent of coin burning practices within the Shiba Inu community. Could you elaborate on the number of null addresses utilized specifically for burning Shiba Inu coins? This practice, commonly known as coin burning, has been gaining momentum in various crypto projects as a means of reducing the total supply and potentially increasing the value of the remaining coins. Given the popularity of Shiba Inu, I'm keen to understand the scale and significance of this practice within its ecosystem.
6 answers
CryptoPioneerGuard
Sat Jul 13 2024
Currently, there exist four distinct null addresses that are utilized specifically for the burning of $SHIB coins.
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BenjaminMoore
Sat Jul 13 2024
These addresses are not the creation of the Shiba Inu development team, rather, they are integral components of blockchain mainnets.
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Martino
Fri Jul 12 2024
These addresses are not exclusive to the burning of $SHIB, as they are also used for the burning of other cryptocurrencies.
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SakuraSmile
Fri Jul 12 2024
The addresses in question are: 0x7d0c49057c09501595a..., 0x0000000000000000000..., 0xb720c5709cfd035f0b1..., and 0xb49b96251371abd7a64....
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Caterina
Fri Jul 12 2024
It's worth noting that these addresses are publicly available on blockchain explorers, allowing anyone to track the burn transactions of $SHIB and other cryptocurrencies.
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