• 7M+ SHIB tokens burned daily, reducing supply.
• SHIB price stable at $0.00002164 despite fluctuations.
• SHIB community anticipates burn impact on token’s future.

Shiba Inu, the popular meme coin, continues to make headlines due to fluctuations in its circulating supply.

Over the past 24 hours, a total of 7,104,164 SHIB tokens have been sent to dead wallets across eight transactions. Compared to the previous 24-hour period, this burn rate is a substantial decrease, during which over 11 million tokens were burned. Despite the drop, the seven-day trend shows a notable increase in tokens burned, with 272,146,012 SHIB tokens removed, signifying a 550.8% surge.

The leading dog-themed token utilizes a burning mechanism to reduce the total number of tokens in circulation, potentially driving the price up. SHIB is currently trading at $0.00002164, showing a marginal dip of 0.41% in the past hour and 1.84% over the last 24 hours. The token’s market capitalization stands at $12,755,456,041, reflecting a 2% drop. Despite the price fluctuations, SHIB has maintained relative stability, with the total supply remaining at 589,273,210,598,481 tokens.

The post Shiba Inu’s Burning Question: Can Less Supply Drive Up Demand? appeared first on Coin Edition.

• 7M+ SHIB tokens burned daily, reducing supply.
• SHIB price stable at $0.00002164 despite fluctuations.
• SHIB community anticipates burn impact on token’s future.

Shiba Inu, the popular meme coin, continues to make headlines due to fluctuations in its circulating supply.

Over the past 24 hours, a total of 7,104,164 SHIB tokens have been sent to dead wallets across eight transactions. Compared to the previous 24-hour period, this burn rate is a substantial decrease, during which over 11 million tokens were burned. Despite the drop, the seven-day trend shows a notable increase in tokens burned, with 272,146,012 SHIB tokens removed, signifying a 550.8% surge.

The leading dog-themed token utilizes a burning mechanism to reduce the total number of tokens in circulation, potentially driving the price up. SHIB is currently trading at $0.00002164, showing a marginal dip of 0.41% in the past hour and 1.84% over the last 24 hours. The token’s market capitalization stands at $12,755,456,041, reflecting a 2% drop. Despite the price fluctuations, SHIB has maintained relative stability, with the total supply remaining at 589,273,210,598,481 tokens.

The post Shiba Inu’s Burning Question: Can Less Supply Drive Up Demand? appeared first on Coin Edition.