More than 300M SHIB tokens were burned
According to the official burn tracker, Shibburn, around 301.68 million SHIB tokens were removed from circulation, representing an impressive 1,393% increase.
Coin burning occurs when a cryptocurrency is intentionally sent to an unusable wallet address to remove it from circulation. This is done to create scarcity and increase its market value if demand remains strong.
More than 918 million SHIB were burned in June in 237 transactions, marking an increase of 148% from the previous month. At the time of writing this, almost 410.72 billion tokens have been burned.
