Shiba

Coin

<ul class="news-points"> 
 <li>7M+ SHIB tokens burned daily, reducing supply.</li> 
 <li>SHIB price stable at $0.00002164 despite fluctuations.</li> 
 <li>SHIB community anticipates burn impact on token’s future.</li> 
</ul> 
Shiba Inu, the popular meme coin, continues to make headlines due to fluctuations in its circulating supply. 
Over the past 24 hours, a total of 7,104,164 SHIB tokens have been <a href="https://x.com/shibburn/status/1801117343860376057" target="_blank" rel="nofollow">sent</a> to dead wallets across eight transactions. Compared to the previous 24-hour period, this burn rate is a substantial decrease, during which over 11 million tokens were <a href="https://x.com/shibburn/status/1801147538411487409" target="_blank" rel="nofollow">burned</a>. Despite the drop, the seven-day trend shows a notable increase in tokens burned, with 272,146,012 SHIB tokens removed, signifying a 550.8% surge. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdfesT9Nr_T_gufwDkT3pRJ9B1j_T9AFKVlBxTpiTTlXJV-p5OZ-EsoGBA2LHP1ce9rO7-Dy7ePh7U4lGoHm5UyDQv_pz7ZJR3aG2AE3LuXD6wDcq-oyinv9y4RwcAEG_CFy9aMghkEfoETy6DYUNLVceNr?key=qsSeZC6zQqrZMqfxDYydqQ" alt="">
</figure> 
The leading dog-themed token utilizes a burning mechanism to reduce the total number of tokens in circulation, potentially driving the price up. SHIB is currently trading at $0.00002164, showing a marginal dip of 0.41% in the past hour and 1.84% over the last 24 hours. The token’s market capitalization stands at $12,755,456,041, reflecting a 2% drop. Despite the price fluctuations, SHIB has maintained relative stability, with the total supply remaining at 589,273,210,598,481 tokens. 
The post <a href="https://coinedition.com/shiba-inus-burning-question-can-less-supply-drive-up-demand/">Shiba Inu’s Burning Question: Can Less Supply Drive Up Demand?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Shiba Inu’s Burning Question: Can Less Supply Drive Up Demand?

Coin Edition

Other articles published on Jun 13, 2024

Elon Musk Lauds Getting Majority Voting In $56B Pay Package From Tesla Shareholders

Bitcoin Mining Stocks Rally After Donald Trump Says He Wants All Unmined BTC To Be Made In The USA

Qubetics Whitelist Gains Traction against Polygon and VeChain as Investors Rush for Early Joining

Ripple And Archax Deepen Partnership To Tokenize RWAs Worth Millions On XRPL

Taiwan establishes association to help crypto firms self regulate

When Will The SEC Lawsuit Against Ripple END?

Join our free newsletter for daily crypto updates!