The Shiba Inu community has seen an increase in efforts to reduce the number of SHIB tokens in circulation as a wallet sent 1 billion SHIB to the burn address. The wallet belonged to SquidGrow, a meme-utility project, and their founder, Shibtoshi, confirmed their involvement in the burn. This burn, along with other recent burns, has significantly increased Shiba Inu's burn rate. Burning tokens is a way for the community to decrease the supply and potentially increase the price of SHIB. At the time of writing, Shiba Inu is trading at $0.00002561, up 1% in the past 24 hours.



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