Shiba Inu Community Burns Meme Coins to Reduce Supply

The Shiba Inu community is conducting intense burning activity to reduce the circulating meme coin supply. According to Shibburn data, the burning rate in the last 24 hours increased by 162.85% and more than 16 million Shiba Inu coins were burned in nine transactions. This could strengthen Shiba Inu’s market position and increase its competition with rival Dogecoin.

Burning Activities Are Increasing

While the largest burning transfers contain millions of SHIB, other transactions carrying large amounts of SHIB were also carried out. It is expected that these burns will affect the price of SHIB.

SHIB Price Continues to Be Uncertain

Although the SHIB price showed a slight increase in the last 24 hours, it then experienced a decline. The addition of SHIB-based trading pairs by Nexo created some optimism, but the SHIB price is generally trending downward.

SHIB Price Could Rise

Some analysts and SHIB team members predict that the price of Shiba Inu could reach record levels after the Bitcoin halving event. SHIB’s official marketing leader, Lucie, shares the same optimism.

Shibarium Activities Are Increasing

The Shibarium ecosystem is experiencing significant developments in transaction volume and wallet count on Shibariumscan explorer. However, daily transaction numbers are currently remaining at low levels.

Useful Information for Readers

The Shiba Inu community has increased burning operations to reduce meme coin supply.
The burning rate increased by 162.85% in the last 24 hours.
Fluctuations in SHIB price continue to depend on market dynamics.
Analysts predict a rise in Shiba Inu price after the Bitcoin halving.
While the Shibarium ecosystem is strengthening, daily transaction numbers are maintaining stability at low levels.