Burning of Shiba Inu Supplies
The burning rate of SHIB skyrocketed by 1000% last Tuesday.
Shibarium user wallets reached the milestone of 2 million.
Investors are optimistic about the price dynamics of SHIB.
The burning rate of SHIB increased by 1000% last Tuesday, impacting the cryptocurrency supply. This surge significantly affected the supply of SHIB, and now the crypto community is contemplating whether it’s possible to burn trillions of tokens next time.
According to Shibburn
During the last burn, the Shiba Inu blockchain removed 51.76 million SHIB tokens, which is 1068% more than the previous event. This increase raised the weekly burn volume of the meme coin to 2.44 billion tokens after the network removed 410.74 trillion tokens from the total initial supply, reducing its overall amount to 589.25 trillion.
Such a sharp reduction in SHIB's circulating supply has sparked discussions about whether the burning rate could lead to significant price increases, with some investors observing the long-term consequences of an aggressive Shiba Inu burning strategy.
The spread of Shibarium is growing
