20 Million #SHİB Burned in Minutes: Shiba Inu Community Accelerates Token Reduction
In a significant move for the Shiba Inu #SHİB ecosystem, 20,000,000 SHIB tokens were permanently removed from circulation within minutes through a burn transaction. This process, which involves sending tokens to an irretrievable blockchain address, effectively reduces the circulating supply of SHIB.
According to recent reports, the burn was initiated by an anonymous whale who acquired the SHIB tokens and promptly transferred them to the burn address, contributing to the ongoing efforts to enhance scarcity and potential value appreciation.
So far today, the SHIB community has successfully burned 20,794,281 SHIB, resulting in a 34.24% increase in the daily burn rate. On a broader scale, the weekly burn volume has reached 122,135,883 SHIB over the past seven days.
To date, the combined efforts of the Shiba Inu community and development team have led to the elimination of 410,744,744,227,515 SHIB, significantly shaping the token's long-term supply dynamics. Despite these burns, an equivalent amount of 410.74 trillion SHIB remains in circulation.
At the time of writing, SHIB is trading at $0.00001309, reflecting a 3.07% increase. The sustained burning mechanism continues to play a crucial role in the token’s economic model, influencing supply and demand within the Shiba Inu ecosystem.