Data: SHIB's burn rate skyrockets to 3000% in 24 hours, development team considering daily destruction of 1 trillion tokens
Shiba Inu (SHIB) has burned over 67 million tokens in the past week, with the burn rate surging to 3000% in 24 hours. The SHIB development team is considering implementing an aggressive token burn strategy, aiming to burn 1 trillion SHIB daily. If this goal is achieved, approximately 365 trillion SHIB will be burned within a year, reducing the current circulation by 62%.
Analysts predict that this supply reduction could drive SHIB's price up by 167%, reaching about $0.000037, assuming the market cap remains unchanged. The Shibarium Layer 2 network plays a key role in this burn strategy, currently having a total locked value of approximately $3 million, but it needs to grow to $1 billion to support the daily burn target.
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