$SHIB
Token burns are all the rage these days. Just last week, the burn rate for SHIB skyrocketed, with over 629 billion tokens removed from circulation, a whopping 1,700% increase. On the surface, it seems like a solid way to stabilize prices. After all, fewer tokens in circulation should lead to higher prices, right?
But let's be honest: relying solely on token burns to stabilize prices can backfire. Whether it's market manipulation, transparency issues, or regulatory scrutiny, there are plenty of ways for burns to fall flat. Some projects may even burn tokens that were never in circulation, leading to hype without real market impact. So while burns can help, they shouldn't be the only game in town.