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SHIB Burn Rate Skyrockets 416% With Half Billion SHIB Torched
The Shiba Inu (SHIB) community and the SHIB team have made a massive move, burning an astonishing half billion tokens, sending the burn rate skyrocketing by 416%! This monumental event marks another significant milestone in the project’s ongoing efforts to reduce the circulating supply of SHIB.
According to recent reports, the community still holds a staggering 584,348,475,090,192 SHIB coins, which represents an enormous amount remaining in circulation. However, it is heartening to see this massive burn event, which signals a strong commitment from the team and the community to continue working towards reducing the token’s supply.
The price of SHIB has responded positively to these developments, with the coin logging a 7.45% rise since Tuesday, currently trading at $0.00001273. This uptick is likely due in part to the increased confidence in the project’s direction and the efforts being made to strengthen its fundamentals.
It remains to be seen what the long-term implications of this burn will have on the market and the overall trajectory of SHIB.
Source: https://u.today/shib-burn-rate-skyrockets-416-with-half-billion-shib-torched
