The Shiba Inu meme coin’s price performance is significantly dependent on the SHIB burn, a burning mechanism that reduces its supply to bring scarcity. As the supply decreases, the demand for the token increases. As a result, such events often result in pumping the token’s price. In the last 24 hours, the team has sent 14M SHIB to burner wallets, so is the price surging? Let’s discuss. 14M SHIB Burned Today, Shiba Inu Price to React? The SHIB burn was implemented way after the inception of the cryptocurrency. Its high token supply is seen as a barrier, so this decision was made with the community’s approval. Every day, a significant amount of the Shiba Inu tokens are burnt, and the price reacts one way or another. In the last 24 hours, 14M SHIB have been burned, another $23M hours before that, bringing the total burnt supply to 410.7T. However, despite... Read More at Coingape.comThe post Will 14M SHIB Burned Be Enough to Boost the Shiba Inu Price? appeared first on CoinGape.
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