SHIB's Burning Up ๐ฅ!
Hey, Shib fam! I'Ve got some exciting news to share - the burn rate of Shiba Inu (SHIB) has skyrocketed 529.72% in just 24 hours! ๐ That's not all; an impressive 37.53 million SHIB tokens were sent to dead wallets during this time ๐.
The Community's Hard Work ๐คฉ
As of now, the Shiba Inu community has collectively burned almost 410.7 TRILLION SHIB tokens from the initial circulation supply ๐! With a current supply of 583.3 trillion tokens, this constant burning of SHIB is a highly bullish move ๐ธ.
What's the Logic? ๐ค
Reducing the circulation supply of a coin makes it deflationary ๐. Think of it like this: Bitcoin (BTC) has a limited supply of 21 million, which makes it deflationary ๐ธ. While Shiba Inu's supply is massive, constant burning can still make SHIB one of the deflationary cryptos out there ๐ฅ.
What About the Price? ๐
Currently, SHIB is struggling, down 4.83% in the last 24 hours, trading at $0.00001776 ๐. But here's the thing: the recent surge in burn rate might not have an immediate impact on the price, but it'LL likely leave a positive impact in the long run ๐ฐ๏ธ.
What Do You Think? ๐ค
What do you think about this sudden spike in SHIB's burn rate and its potential impact on the price? Share your thoughts and predictions in the comments below! ๐ฌ
