Unlike traditional token burns carried out solely by developers or foundation teams, Shiba Inu’s burn campaign is a community-led mission. In this system, supporters voluntarily send their $SHIB tokens to a special “dead” wallet, making them permanently inaccessible.
This process effectively destroys the tokens and reduces the token’s circulating supply. The idea behind burning is to decrease supply and increase scarcity, which may support higher prices in the future.
According to Shibburn, a leading tracker of Shiba Inu burns, around 30 million SHIB tokens were destroyed in the past 24 hours alone. Over the last seven days, about 243 million SHIB have been permanently removed from circulation.
