SHIB's Burning Up 🔥!
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! 🚀 That's not all; an impressive 37.53 million SHIB tokens were sent to dead wallets during this time 📊.
The Community's Hard Work 🤩
As of now, the Shiba Inu community has collectively burned almost 410.7 TRILLION SHIB tokens from the initial circulation supply 🎉! With a current supply of 583.3 trillion tokens, this constant burning of SHIB is a highly bullish move 💸.
What's the Logic? 🤔
Reducing the circulation supply of a coin makes it deflationary 📊. Think of it like this: Bitcoin (BTC) has a limited supply of 21 million, which makes it deflationary 💸. While Shiba Inu's supply is massive, constant burning can still make SHIB one of the deflationary cryptos out there 🔥.
What About the Price? 📊
Currently, SHIB is struggling, down 4.83% in the last 24 hours, trading at $0.00001776 😕. 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 🕰️.
What Do You Think? 🤔
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! 💬
