Shiba Inu (SHIB) has seen a significant increase in its deflationary mechanism, with a 284.37% surge in the last 24 hours. The SHIB community has been burning fresh batches of tokens to ensure price stability, leading to the destruction of 12,546,958 SHIB tokens in dead wallets. This has sparked optimism among holders of a possible sustained price recovery. SHIB routinely removes tokens from circulation to drive up value over time and create scarcity. Data shows that the total SHIB burnt now stands at 410,743,188,960,287 SHIB, with 410,743,188,960,287 SHIB remaining in circulation. Despite the burn rate, SHIB's price has remained sideways, finding support at the $0.0000180 level. Market participants continue to invest in SHIB, with over 18 trillion tokens committed to open interest across exchanges. Analysts speculate that ecosystem developments, including a major announcement by Shiba Inu's lead developer and the potential bridge between Shibarioum and Solana, could support SHIB's price rediscovery.



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