In the digital currency market, the Shiba Inu (SHIB) token has seen an explosive burn rate of 499,363%,with the protocol sending a whopping 264,176,152 SHIB tokens to dead wallets. This large-scale burning of tokens has removed them from circulation, which could signal potential price growth. Other wallets have also contributed to the burn rate, indicating a collective effort from the Shiba Inu community to reduce token available in circulation. Currently trading at $0.000008384 and with a slowed trading volume, the SHIB token is expected to benefit from the burn rate with a possible uptick in demand to help it regain momentum. If the conditions are favorable, the SHIB token could hit one of its most positive months this year.
Lydia Thomas
- 2023-11-27
Could The SHIB Token Benefit from Its Explosive Burn Rate?
![CandleFocus ShibaInu-SHIB-BurnRate-DeadWallets-PriceGrowth](https://images.candlefocus.com/Could-The-SHIB-Token-Benefit-from-Its-Explosive-Burn-Rate.jpg)