Burned For Good? Vitalik Buterin Destroys 410 Trillion Shiba Inu Coins

Many altcoins are rising today and making some noise just like these crypto rivals – Dogecoins and Shiba Inu. Several days ago, the news about Ethereum Co-founder- Vitalik Buterin donated over $1B to India’s Crypto Covid Relief Fund, created a commotion among some investors. Buterin is back on the news after pointed out that he destroyed 410 Trillion (worth as much as $6.74 billion) Shiba Inu coins.

Buterin destroyed 90% of Shiba Inu coins in his possession by sending them to a dead wallet address, and then he donated the remaining 10% of coins for charitable causes; like India’s Crypto Covid Relief Fund. The coin was gifted as part of a marketing move that many crypto companies do to increase the publicity of the coin. Buterin mentioned it was sent to him by the founder without his consent.

After the news spread about the donation, the ETH Co-founder seems to admire the Shiba community and stated, “I’ve actually been impressed by how the dog token communities have treated the recent donation! Plenty of dog people have shown their generosity and willingness to not just focus on their own profits but also be interested in making the world as a whole better. I support all who are earnestly doing that. “

Considering the decision of Vitalik Buterin to burn a huge percentage of Shiba Inu (SHIB) coins making it rarer and potentially increasing their value, some investors and part of the dog token communities see this as a positive development for the coin in the future.

After Buterin destroyed almost half of the percentage of Shiba Inu coins, it surged by up to 146% on Binance Listing.