Shiba Inu Burn Rate Soars: Will This Impact SHIB's Price?
Shiba Inu (SHIB) has seen a significant surge in its burn rate, with nearly 28 billion SHIB tokens burned in a single day. This increase in the burn activity, spiking to over 3,255%, reflects the SHIB community's efforts to reduce the token's circulating supply in hopes of boosting its long-term value. While over 410 trillion SHIB tokens have been burned, the total supply remains at 589.25 trillion. The community-led burns, combined with active staking, may positively impact SHIB’s price, but market sentiment and other factors will continue to influence its value. As of now, SHIB’s price stands at $0.00001228, with a market cap of $7.23 billion.
2025-04-21Read
