The Shibburn tracking platform has revealed that almost 400 million SHIB coins were burned in the past month, resulting in a decrease in the circulating supply. However, many members of the Shiba Inu community feel that these burns are still too small to significantly impact the price of SHIB. Some suggested alternative strategies, such as hosting a concert or gaming tournament with SHIB as a sponsor, to lock more coins away from the supply. The price of SHIB experienced a significant crash in February but has since made attempts to recover. Elon Musk recently stated that investing in meme coins is akin to gambling and warned against betting life savings on them.



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