Vitalik Buterin has burnt 90% of his Shiba Inu tokens ($410T SHIB) equal to $6.7B. Thus, almost half of all the coins of the project were destroyed.
The founder of ETH commented on his decision, saying that the SHIB community showed their "generosity" when they sent more than 50% of the total amount of SHIB to Buterin. Vitalik said that he saw that these people are involved not only in their individual profit but also in making the world a better place. He, in turn, stressed that he sincerely supports such a decision.
The creator of Ethereum explained that the desire to get rid of the "dog tokens" arose, among other things, for market safety reasons. He tries to evade the frenzied speculation that could occur around the SHIB-equivalent transactions he carried out. In addition to this, Vitalik requested the representatives of the crypto community to no longer send him SHIB tokens.
The last 10% of SHIB tokens in his own crypto wallet Buterin intends to spend on donations. He views the CryptoRelief organisation, which is helping India fight the coronavirus pandemic, as potential recipients.
Due to the “burning” by Buterin, Shiba Inu has become one of the few tokens on the market that has managed to withstand the ongoing decline in the crypto market. Over the past 24 hours, the token has grown in price by 3% and is now trading at $0.00001653 on Binance.