CandleFocus Shiba Inu Community Burns 2,378,422,108 SHIB in September as Monthly Burn Rate Spikes 249%
2024-10-02
Author: Content Editor
The Shiba Inu community burned over 2.37 billion SHIB tokens in September as part of their efforts to decrease the circulating supply and boost the token's price. This represents a 249.36% increase in the burn rate compared to August. A Binance-linked wallet was responsible for burning the majority of the tokens in a single transaction, accounting for 78.7% of the total burns in September. Additionally, the Living The Dream project burned 250 million SHIB as part of their campaign. The community hopes that reducing the token supply will help increase SHIB's price, which is currently trading at $0.00001672. In October, the burn rate has decreased significantly, with only 2,941 SHIB tokens burned so far.
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