🔥🔥🔥 Shiba Inu burns 17 million tokens: SHIB price predictions for 2025 revealed
Shiba Inu, one of the most popular meme coins, recently burned 17 million tokens, according to data from Shibburn.com. Will this raise the price of SHIB?
While the Shibburn data represents another step in the deflationary process of the token, the total value of burned tokens is only about $500. Compared to the enormous market capitalization of Shiba Inu, which is approximately $16.58 billion, the impact will be minimal. Burning tokens is a strategy to reduce the total supply of cryptocurrency, which increases its scarcity and value. However, small-scale burning indicates that its immediate impact on the price trajectory of Shiba Inu is limited. Nevertheless, that's not all
The Shiba Inu community and ecosystem fuel optimism
Shiba Inu has evolved as a speculative asset, attracting significant interest due to its extensive and active community. This participation has been critical for its survival in the volatile realm of meme currencies. 🔥🔥🔥
Shiba Inu (SHIB) price chart