Shiba

Burn

Shiba Inu

Frenzy

<ul class="news-points">
 <li>Shiba Inu burn rate rose 1,611 as 17.65 million tokens were wiped off from circulation.</li>
 <li>SHIB burning would send the prices sky-high when the bull run arrives, said an analyst.</li>
 <li>Shiba Inu is also working on “something special” which would burn SHIB.</li>
</ul>
Shiba Inu (SHIB), the second-largest meme coin by market capitalization, has fallen below the $0.000017 price level, despite a recent surge in token burning aimed at boosting its value.
This decline comes amid a broader downturn in the crypto market, raising questions about the effectiveness of SHIB’s deflationary measures. The meme coin is down by around 1.62% after the market fell under the claws of bears.&nbsp;
Shibburn <a href="https://www.shibburn.com/" target="_blank" rel="noopener noreferrer nofollow">data</a> reveals that the burn rate of Shiba Inu (SHIB) tokens surged 1,611% in the past 24 hours, with 17.65 million SHIB tokens burned. To date, a total of 410 trillion SHIB tokens have been removed from the total supply of 999 trillion.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeAG4FNL1fU9u0lRonc76lqry70joBBQCzDXrYOVfNED2fOXasofHQWdl9ozMf24trZFhaW5i_wac8R_H82Ju-5fZOPvdcaNXzzpsTcMkc-kKafSe3ks_73GnOFvezaS2pQDLLMZBgnCyT3OZs-iD8VD7JQ?key=qEXln8cx7GJFfbLUT2UipA" alt="">
</figure>
Source: Shibburn
The burning of tokens reduces the circulating supply, which can potentially lead to price appreciation over time. Shiba Inu enthusiast Lola, on X (formerly Twitter), noted that the meme token’s price action needs to consolidate until the…
The post <a href="https://coinedition.com/shiba-inu-eyes-price-rebound-as-shibacals-collaboration-ignites-burn-frenzy/" rel="noopener noreferrer nofollow">Shiba Inu Eyes Price Rebound as Shibacals Collaboration Ignites Burn Frenzy</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Shiba Inu Eyes Price Rebound as Shibacals Collaboration Ignites Burn Frenzy

Coin Edition

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