Shiba Inu Burning Spree Sees A 14,000% Surge, 173M SHIB Eliminated In A Single Day
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) saw a 14,400% surge in burn within a single day, resulting in the elimination of over 173 million SHIB. The spike in burn is attributed to an ambitious strategy unveiled by Lucie, the marketing lead for the Shiba Inu project team, called 'The Big Plan from The Shiba State.'
November 07, 2023 | 5:47 am
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POSITIVE IMPACT
The significant surge in burn of Shiba Inu tokens could potentially lead to a decrease in supply and an increase in price, given the demand remains constant.
The 'burning' of tokens refers to the process of permanently removing tokens from circulation, thereby reducing the overall supply. If demand remains constant, this reduction in supply could lead to an increase in the price of the remaining tokens. The unveiling of 'The Big Plan from The Shiba State' strategy by the Shiba Inu project team could also generate increased interest and demand for the token.
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