The post Shiba Inu Community Sees Token Burn of Over 14 Million SHIB Amid Concerns About Supply Reduction Pace appeared on BitcoinEthereumNews.com.

The Shiba Inu (SHIB) community is buzzing following a significant token burn, where over 14 million SHIB tokens were permanently removed from circulation. This latest effort to reduce the supply of SHIB reflects the ongoing strategies employed by the community to enhance scarcity and potentially drive up the token’s value. In a recent analysis by COINOTAG, it was noted, “Efforts such as token burn events are vital for the sustainability of cryptocurrencies like SHIB, aimed at instilling confidence among investors.” Shiba Inu community successfully burns over 14 million SHIB tokens, signaling ongoing efforts to enhance token value through reduced supply. Strategies Behind Token Burning and Community Reactions Token burning has become a substantial strategy within the cryptocurrency community, particularly for Shiba Inu. By **reducing the circulating supply**, the aim is to create scarcity, which can positively impact price dynamics. The recent burning of **14,372,556 tokens** is a testament to the SHIB community’s commitment. While this event is significant, some community members argue that the pace of burning might be too slow to effect a substantial price change. Coin Supply and Market Reactions Community sentiment regarding the SHIB token burning is mixed. Although the recent burn is substantial, some analysts suggest that faster action could be necessary to regain momentum. Statistical trends show that within the last 24 hours, there was a 75.49% decrease in the burning rate of SHIB tokens, with a total of **17,548,578 SHIB burned**, compared to **102,011,340 SHIB burned** over the past week, marking a 39.04% decline. These numbers indicate the volatility and urgency felt by the community to adjust burning activities. Market Insights on SHIB Pricing Dynamics As of now, the price of SHIB has taken a slight hit, reflected by a **1.78% decline** in the last 24 hours, with the token trading at **$0.00001368** after…

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Filed under: News - @ March 2, 2025 2:19 pm