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. 
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 <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

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