$SHIB In October 2024, Shibarium, Shiba Inu’s second-layer blockchain solution, resumed significant token burns after a brief hiatus. Token burning is a process in which SHIB tokens are sent to inaccessible wallets, reducing the circulating supply. This increased burn rate is intended to make the token more scarce, potentially increasing its value in the long term.
In addition, Shibarium has introduced an automated mechanism that converts transaction fees (paid in BONE tokens) into SHIB, which are then permanently removed from the market. This is part of ongoing efforts to sustain the value of the Shiba Inu ecosystem. Recently, there have been issues tracking the burns, which has caused confusion among investors, but the overall trend is an increase in burn activity and community support for the project
