🔥 Shiba Inu Burn Rate Explodes by 7,418%!

Shiba Inu ($SHIB), one of the most popular meme coins, has achieved an incredible milestone with its burn rate skyrocketing by 7,418% in just one week! Over 2.15 billion SHIB tokens have been permanently removed from circulation, drastically reducing the token's supply.

Shiba Inu Weekly Burn Highlights

Weekly Burn Rate: 7,418% increase

Total Tokens Burned (Week): 2.15 billion SHIB

Last 24 Hours: 386.5 million SHIB burned

This burn effort has been a game-changer for SHIB's circulating supply, which now stands at 589.26 trillion tokens. The price of Shiba Inu has also surged, reaching $0.00003059, a 13% increase in just 24 hours, and hitting a 2024 intraday high of $0.00003146.

How Burns Impact SHIB's Value

Token burns reduce the overall supply of a cryptocurrency, creating scarcity that can push the price higher. For Shiba Inu, consistent burns are essential due to its massive initial supply of 1 quadrillion tokens. Community-driven burns have already halved this supply, with more reductions expected in the future.

The Bigger Picture

Shiba Inu’s lead developer, Shytoshi Kusama, has emphasized that burns are not the only focus. Increasing SHIB’s utility and adoption is equally critical. The goal is to make Shiba Inu so valuable and widely used that people wouldn’t want to burn it anymore!

The latest burn figures show the unwavering commitment of the SHIB community toward reducing the token supply and boosting its value. As SHIB continues its upward trajectory, investors are growing increasingly optimistic about its future.

📊 What are your thoughts on the latest SHIB burn and price rally? Let us know in the comments below!

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