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⛓️ Crypto⚪ NeutralImportance 4/10
Shiba Inu Burns 4 Million SHIB as Supply Stays Steady at 589 Trillion, Will Price React?
🤖AI Summary
Shiba Inu's burn rate increased 63% with over 4 million SHIB tokens sent to dead wallets, though the total supply remains at 589 trillion tokens. The token burn mechanism is designed to reduce supply over time, potentially impacting price through scarcity dynamics.
Key Takeaways
- →Shiba Inu's burn rate surged 63% in the latest reporting period.
- →Over 4 million SHIB tokens were permanently removed from circulation via dead wallet transfers.
- →Total SHIB supply remains steady at 589 trillion tokens despite the burns.
- →Token burning is intended to create deflationary pressure on SHIB's massive supply.
- →The relatively small burn amount may have limited immediate impact on price given the enormous total supply.
Read Original →via U.Today
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