Shiba Inu Coin is going to reduce 77 trillion tokens, what's the big move behind it?
Today we have to talk about a big news about Shiba Inu Coin (SHIB)! SHIB, the meme token once known as the "Dogecoin killer", has made a big move recently. Have you heard about it? 77 trillion SHIB tokens are about to disappear! This is no small matter, and it has a big impact on the supply and price of the token.
What's going on? It turns out that the development team and community of SHIB have come up with a trick to reduce the total supply of SHIB. They have created a destruction process, which is like throwing the tokens into a "black hole" and never taking them out again. In this way, there are fewer tokens in circulation, the scarcity has increased, and theoretically the price may also increase.
This is not a whim. SHIB has been destroying tokens regularly since its birth. But this destruction of 77 trillion tokens is a big milestone. Although the supply of SHIB is still large, it is still shocking that so many tokens are gone at once.
This is a great thing for SHIB investors. If the supply is reduced and the demand remains the same or even increases, then the price will go up. Of course, investment is risky, and SHIB's price is notoriously volatile. So, although the destruction of tokens is good news, investors should still be careful.
Moreover, SHIB's community is also an important driving force behind this destruction. They actively participate in various destruction activities, as if they are contributing to the future of SHIB. This spirit of collective effort is also an important reason why SHIB can get to where it is today.
In addition to destroying tokens, SHIB is also doing big things. They are developing a series of projects, such as ShibaSwap decentralized exchange, SHIB NFT, and even the Shiba Inu metaverse plan. If these projects succeed, SHIB's practicality and long-term success will be more guaranteed.
So, although SHIB was just a meme token at the beginning, it is now becoming more and more competitive.
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