Shiba Inu, one of the world’s most popular meme cryptocurrencies, has recently experienced a surge in the number of tokens being permanently removed from circulation. This milestone marks a significant moment in the journey of SHIB, the second-biggest meme coin in the market.
Despite recent market downturns, SHIB’s price is showing signs of recovery, thanks to the resilient spirit of its community. The latest data from the Shibburn tracking platform reveals a 103.45% increase in SHIB tokens being burned over the last 24 hours, with over 34 million tokens sent to inaccessible wallets through four separate transactions.
The burning of SHIB tokens is a community-driven initiative aimed at reducing the overall supply of the meme coin. By enhancing its scarcity, the value of SHIB is expected to increase over time. This proactive approach by the community reflects their dedication to the long-term success of the cryptocurrency.
Lucie, SHIB’s marketing lead, has expressed optimism about the coin’s potential in the market. She believes that SHIB could reach a new all-time high, possibly before or shortly after the upcoming Bitcoin halving event in late April. With SHIB currently trading at $0.00002808, investors and the community are eagerly watching its trajectory, hoping for a return to its peak price of $0.00008845 achieved in October 2021.
The enthusiasm surrounding SHIB is palpable, with investors closely monitoring its progress and potential for growth. As the meme coin continues to gain traction in the market, its community-driven initiatives and strong support from investors are propelling it towards future success.
