Yes, Shiba Inu (SHIB) tokens are burned periodically to help reduce their total supply and potentially increase their value. Token burning involves sending SHIB to an inaccessible wallet address, effectively removing them from circulation.

Why Burn SHIB Tokens?

1. Supply Reduction: SHIB has a large initial supply (1 quadrillion tokens). Burning helps reduce the circulating supply, which can make the token more scarce.

2. Increased Value: By reducing supply, the demand for the remaining tokens may increase, potentially driving up the price over time.

Current Burning Efforts

1. Community Burns: The SHIB community, also called the ShibArmy, actively participates in burning tokens through initiatives like:

Transactions

Dedicated burn portals

Voluntary token burning by holders

2. Shibarium Burns: The launch of the Shibarium Layer 2 blockchain includes a mechanism where transaction fees partially contribute to burning SHIB tokens.

While burning helps support value, other factors like market conditions, adoption, and ecosystem development also play significant roles in SHIB's price movement.