Shiba Inu burns 51 million tokens: SHIB price prediction for 2025 revealed
Shiba Inu, one of the most famous meme coins, has burned 51.5 million tokens in the past week, according to data from Shibburn.com. But could this contribute to a significant increase in the price of SHIB?
Although this token burn marks another step in the deflationary process of Shiba Inu, the total value of the burned tokens amounts to only $1,030.45 at current prices. When compared to Shiba Inu's massive market cap of around $12.9 billion, this impact is very small. Token burning is a popular strategy used to reduce the overall supply of cryptocurrency, theoretically increasing its scarcity and value. However, the small scale of this burn indicates that its immediate impact on the price trajectory of SHIB is negligible. Nevertheless, there may be more going on behind the scenes.
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