Massive SHIB token reduction confirmed.
The Shiba Inu cryptocurrency team has announced a significant reduction in SHIB tokens. Marketing specialist Lucie revealed the collection of 40 Ethereum (ETH), valued at approximately $155,720, to burn SHIB tokens.
This reduction is likely related to Shibarium, a platform that has been burning SHIB tokens since December 2023, eliminating 43 billion tokens so far. Despite recent increases in network transactions, no more fires have occurred, possibly because the team was waiting for the launch of a special fire portal.
Burning 40 ETH could potentially remove up to 4.64 billion SHIB tokens from circulation. While this appears small compared to total supply, it could help sustain SHIB's growth trend and lead to deflation during periods of high demand.
Currently, SHIB has seen an increase of 10.25% in the last 24 hours, reaching $0.00003356, with a weekly increase of 160.64% and an increase of 275% over the last month.
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