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In the last 24 hours, the number of Shiba Inu (SHIB) tokens burnt have reached a very high level of 53 million burnings occurred. When compared with the number of tokens burnt (19.5 million) in the past 24 hours, we observed a increase of 250%.
The purpose here is for Shiba Inu (SHIB) to further appreciate its token by reducing the circulating number every day to affect the price. Similarly, Binance also burned $450 million worth BNB in recent days.
Why Didn’t The Price of Shiba Inu Change Much?
Although the value of SHIB increased by %2 after the burn, the expectation here will be more long term. the technology they aim to increase values such as more transactions and scalability on roll-up, i.e., the blockchain network (Shibarium developed this blockchain) could rise rise even faster when it further develops. Roll-up emerged at the end of August and they advance every day in their projects, which they always say forward despite many adversities in the following months.
What Is The Current Supply Situation?
Shiba Inu (SHIB) burnt more than 53 million SHIB tokens by sending them to an address that no one can access. The maximum total supply of Shiba Inu is 999.982.697.981.254. More than 41% of these, or 409.992.906.172.314, have been burnt.
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