In an unprecedented move, Shiba Inu (SHIB) managed to achieve a huge jump in its market value, as more than 460 million SHIB were burned, which contributed to a significant increase in demand for the currency 🔥📈. Burning tokens is one of the smart strategies that aim to reduce the supply and gradually increase the value of the currency 💎.
The burn rate has skyrocketed by over 1000% 🔥📊, showing the power of impact that this type of operation can have on digital markets. The Shiba Inu price has also seen a significant increase, jumping from $0.000024 to $0.000027 on November 12, 2024 🤑💰. This surge has seen the coin regain levels not seen since May 2024 🌟.
The team behind the coin had announced in January 2024 an automatic burning operation aimed at reducing the supply of tokens 🚀📅. Today, it is clear that this strategy has yielded impressive results, as Shiba Inu has recorded a strong return to a trading area that it has not touched since March 2024 🕒🔝.
After this escalation in market value, Shiba Inu is now considered one of the most prominent digital currencies in the market, as it has outperformed many currencies and ranked tenth in terms of market value, exceeding $16 billion 💪💥.
