Current Shiba Inu Events & Breaking News:
This is the first time fewer SHIBs have been burned in the past 18 months. Only 368 million SHIB, worth around $3,200, were destroyed by the Shiba Inu cult. When compared to May of this year, that’s a drop of 99 percent. In May of 2022, devotees wasted $311,000 worth of SHIB on incense.
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Shiba Inu is a meme coin based on a Japanese dog breed that was created in August of 2020 by an unknown party. This alternative currency is built on the Ethereum blockchain.
4:47 PM | NOV 23 2022
SHIB tokens can be burned to boost their value.
If the total value of all tokens in circulation is $1,000,000 and there are 1,000,000,000 tokens in circulation, then each token is worth $1. In contrast, if all 999,999 tokens are destroyed through b burning, just 1,000 tokens will remain in circulation. As a result, the value of each token will be $1,000,000.
Only if Shiba Inu reduces its SHIB from 590 trillion to below 1 trillion would this be doable. The same has generated enthusiasm among Shiba Inu supporters because it will reduce the token price to a dollar or less. If this occurs, one can exchange a single dollar for more than a million dollars.
This occurred in May of 2021, when Buterin consumed 41% of the available SHIB.
Source: Google Trend