Bitcoin

Shiba Inu

In July, Shiba Inu (SHIB) had a significant month, burning a large number of tokens to help create a deflationary effect and potentially boost its price.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/77fe106aeae04273a354f59c4a6d5743.png" />According to Shibburn data, the burn rate for Shiba Inu surged by over 1,529.20% in the past 24 hours, with more than 8.5 million tokens being burned during this period.<h3 id="strong-shiba-inu-burns-379-million-tokens-in-july-a-step-towards-deflation-strong">Shiba Inu Burns 379 Million Tokens in July: A Step Towards Deflation</h3>In the past month, <a href="https://cryptosheadlines.com/shiba-inus-bone-to-be-listed-on-more-crypto-exchanges-after-okx-and-huobi/" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB) has seen over 379 million tokens burned. While this amount is modest compared to previous months, it demonstrates the Shiba Inu community’s ongoing commitment to the protocol’s deflationary goals.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/cad80d3cc82b4ba2884cfbbfb4341937.png" />Source: <a href="https://x.com/shibburn/status/1818859744901177647?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">X</a>To date, the Shiba Inu ecosystem has burned a total of 410,727,787,201,774 SHIB. With this substantial number of tokens removed from circulation, there are now 583,407,766,765,581 <a href="https://cryptosheadlines.com/shibariums-success-3-4-million-transactions-brighten-shib-ecosystems-future/" rel="noopener noreferrer nofollow">SHIB left in the ecosystem</a>. The underlying strategy is that increasing scarcity through token <a href="https://cryptosheadlines.com/shib-burn-rate-soars-48000-potential-for-shiba-inu-price-rally/" rel="noopener noreferrer nofollow">burns could potentially drive up the price of Shiba Inu</a>, setting the stage for a sustained rally.<h3 id="strong-shiba-inu-focuses-on-utility-and-growth-amid-token-burn-efforts-strong">Shiba Inu Focuses on Utility and Growth Amid Token Burn Efforts</h3>While the burning of SHIB tokens reflects community support, Shiba Inu is also working to enhance its utility. A key example is the recent launch of the <a href="https://cryptosheadlines.com/shiba-inus-marketing-lead-highlights-importance-of-shiba-eternity-game/" rel="noopener noreferrer nofollow">Shiba Eternity game</a> on Shibarium, which is currently in closed beta and exclusively available to LEASH holders. The game will eventually be accessible to the wider <a href="https://cryptosheadlines.com/important-alert-for-shiba-inu-shib-community-regarding-new-release/" rel="noopener noreferrer nofollow">Shiba Inu community</a>.The Shiba Inu development team is also exploring additional utility applications for Shibarium, aiming to provide real value to users. The long-term goal is to increase demand for Shiba Inu tokens in order to balance the reduced supply from burns, potentially boosting the token’s price.<a href="https://cryptosheadlines.com/binance-updates-14-altcoins-delisted-and-new-listings-announced/" rel="noopener noreferrer nofollow">Also Read: Binance Updates: 14 Altcoins Delisted and New Listings Announced</a>Currently, <a href="https://cryptosheadlines.com/shibarium-approaches-milestone-amid-shib-decline/" rel="noopener noreferrer nofollow">SHIB is experiencing a decline</a>, priced at $0.00001596, and has dropped by 2.56% in the past 24 hours.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

Shiba Inu Burns 379 Million Tokens in July; Aiming for New Rally

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