Large SHIB burns continue to happen, while price remains in green and Shibarium metrics show massive rise overnight
keeps gathering Shiba Inu coins and sending them to dead-end wallets, attempting to reduce the circulating supply of this canine cryptocurrency, which was initially based on memes but now has ambitiously grown into something bigger than just that., pushing the burn rate figure into the green zone.Shibburn has stated that over the span of the last 24 hours, a total of 86,928,845 Shiba Inu meme coins has been sent to"inferno" wallets.
The goal of token burns is to make the supply of the SHIB token in circulation shrink to the degree that the token becomes scarce and its price goes to the moon. However, despite the fact that half a quadrillion SHIB has been burned already, it has not had any particular impact on the meme coin's price so far.
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