Shiba Inu Burn Rate Surges Over 110% With 86M Tokens Removed From Circulation — Can $10 Make You A SHIB Millionaire Today?
Portfolio Pulse from Mehab Qureshi
Shiba Inu's layer-two protocol, Shibarium, is fully operational again after a glitch during the beta version launch. The number of addresses on Shibarium has increased from 100,000 on August 24 to over 584,969 total transactions. The burn rate for Shiba Inu tokens has surged by over 110% in the past 24 hours, resulting in the permanent removal of 86 million SHIB from circulation. With SHIB currently trading at $0.0000082, $8.15 worth of SHIB can potentially turn an investor into a Shiba Inu millionaire with 1,000,000 SHIB coins.
August 31, 2023 | 7:50 am
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The burn rate for Shiba Inu tokens has surged by over 110% in the past 24 hours, resulting in the permanent removal of 86 million SHIB from circulation. This could potentially increase the value of SHIB.
The burn rate refers to the process of permanently removing tokens from circulation, which reduces the total supply. This can potentially increase the value of the remaining tokens due to the principles of supply and demand. Therefore, the surge in the burn rate for Shiba Inu tokens could potentially have a positive impact on its value.
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