Shiba

Terra Classic

Millions

Terra

Shiba Inu

<ul class="news-points">
 <li><strong>Regular token burning is an attribute of the SHIB and LUNC communities.</strong></li>
 <li><strong>The SHIB community burned over 918 million tokens in June.</strong></li>
 <li><strong>LUNC surged 4% in anticipation of an upcoming token burn.</strong></li>
</ul>
<p>Shiba Inu (SHIB) and Terra Classic (LUNC) communities are actively burning tokens to reduce supply and boost prices, with notable success in June. This strategy, a recognized method for controlling inflation and increasing token value, has ignited price rallies for both meme coins.</p>
<p>According to reports, the Shiba Inu community permanently removed over 918 million SHIB tokens from circulation in June. Data shared by Shibburn showed that nearly one-third of the total SHIB burned in June occurred on the last day of the month, boosting the monthly burn rate by 148.69%.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 918,079,655 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SHIB</a> tokens have been burned in the month of June with 237 transactions. <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SHIB</a> <a href="https://t.co/vSkZgX8WGh" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/vSkZgX8WGh</a></p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1807625656106205221?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Shibburn’s shared data shows that the Shiba Inu community burned SHIB tokens in varying proportions over 25 of the 30 days in June. Cumulatively, the community burned more SHIB in the first half of the month, specifically between June 11 and June 14. Ho…</p>
<p>The post <a href="https://coinedition.com/shiba-inu-and-terra-classic-burn-millions-of-tokens-prices-surge/" rel="noopener noreferrer nofollow">Shiba Inu and Terra Classic Burn Millions of Tokens, Prices Surge</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Shiba Inu and Terra Classic Burn Millions of Tokens, Prices Surge

Coin Edition

Other articles published on Jul 1, 2024

Dogecoin (DOGE) and Shiba Inu (SHIB) Lose Steam as KangaMoon (KANG) Launches On Uniswap With Two ...

Here’s Why Experts Are Saying To Be Bullish With Mpeppe (MPEPE) And Not Pepecoin (PEPE)

New Article from Vitalik Buterin, Founder of Ethereum! What Does Ethereum Aim for? Here are the D...

Cloudbet Integrates Ethena USDe (sUSDe) Stablecoin and ENA Tokens

Crypto Market Undervalued Despite Bitcoin’s $63K Surge, Says Analyst

Dogwifhat Surges to Top Meme Coin Spot, Outshining DOGE and SHIB

Join our free newsletter for daily crypto updates!