49 Million SHIB Burned as Shiba Inu Burn Rate Jumps 17,900%
The post 49 Million SHIB Burned as Shiba Inu Burn Rate Jumps 17,900% appeared on BitcoinEthereumNews.com.
Shiba Inu token burn highlights community commitment SHIB price dips amidst surging trading Interest With a burn rate reaching 17,930% in just 24 hours, a whopping 49,046,845 Shiba Inu (SHIB) tokens have been permanently removed from circulation, according to the SHIB burn website. The move is part of a major push to reduce the token’s supply and potentially increase its scarcity. Token burns are an important part of the network’s long-term strategy, where tokens are sent to inaccessible wallets deliberately, removing them from circulation forever. Shiba Inu token burn highlights community commitment As the burn rate increases, the supply reduces faster, which can lead to a rise in demand, provided there is plenty of activity in the ecosystem. The latest burn is one of the largest in recent weeks and further proves the Shiba Inu community and developers’ commitment to managing the token’s supply. Source: Shibburn.com The massive increase in the burn rate indicates either a sharp rise in transaction-based burns (where some tokens are automatically removed from circulation after every trade) or a coordinated effort to remove a large quantity of tokens at once. You Might Also Like Even though burns alone cannot guarantee price increases, investors watch them closely as a sign of the project’s long-term viability and community strength. The SHIB Army remains one of the most active in the crypto ecosystem, with over 1.5 million holders. It continues to push the token’s adoption through partnerships, developments like Shibarium (a layer-2 blockchain), and consistent burns. SHIB price dips amidst surging trading Interest The 16th-ranked cryptocurrency by market cap is showing mixed signals on the price chart. According to the latest CoinMarketCap data, SHIB is currently trading at $0.00001442, down 1.45% over the past 24 hours. Despite the drop in SHIB’s price, the token’s trading volume over the…
Filed under: News - @ May 21, 2025 10:24 am