🐶 #ShibaInu Burning surge 5,000%
📣 price may increase
The Shiba Inu (SHIB) community has intensified efforts to reduce the token’s supply, with the burn rate skyrocketing over 5,000% in the past day, as reported by U.Today. A total of 61,468,595 SHIB tokens were permanently removed from circulation during this period, with a single transaction accounting for 80.95% of the burn activity. This transaction, executed by an unidentified wallet, burned 48,266,929 SHIB, while smaller burns of 6,008,171 and 3,938,558 SHIB followed.
Lucie, a prominent figure in SHIB’s marketing team, encouraged the community to maintain patience and focus on long-term growth within the blockchain sector. She advised against making substantial investments unless one has substantial financial resources, instead recommending individuals pursue their passions and remain resilient against negativity.
On the price front, Shiba Inu witnessed notable fluctuations. The token’s value increased by 7.5% within 24 hours to reach $0.00002652 but later dropped by 4.3% to $0.00002539. Over the week, SHIB saw a 12% rise, underlining the characteristic volatility of meme-based cryptocurrencies. Despite the price swings, the SHIB community continues to drive supply reduction efforts through aggressive token burns, showcasing its dedication to the project’s long-term vision.
