shiba inu Reporting the number of tokens burned in the (SHIB) ecosystem, the Shibburn portal announced that 30.43 million SHIB were burned in the last 24 hours. Burning news is very critical for a deflationary structure and such news of burning is welcomed by the community with great joy. The fact that technically burned SHIBs cannot circulate in the markets again limits the supply of the token.
In the past 24 hours, there have been a total of 30,426,107 $SHIB tokens burned and 17 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) August 12, 2022
However, 30 million SHIB burning Although it has been made, it is very difficult to find a response because the total value of these tokens is only 370 dollars, which literally represents 0.0005% of the capital of the project. Also, if you look closely at the statistics of SHIB burned for the last five days since the end of last week, it can be clearly seen that 394 million SHIB tokens were burned during this time, which does not even exceed $ 5,000.
What Does the SHIB Ecosystem Need?
While it is clear that the Shiba Inu ecosystem has been in a deadlock for some time, overall developments continue. In addition to the recently announced game, the community has never lost its passion. The token price is far from the long-awaited sharp rises and has a huge number of 550 trillion in circulation. For this reason, the incineration should continue to increase no matter what, and the rate of burning should be accelerated before the costs increase.
On the other hand, most of the SHIB tokens lie in the wallets of Ethereum whales, and these wallets do not want to be involved in burning activities. Small wallet investors’ complaints are not of the kind that will show their effect. Of course, with SHIB tokens in circulation in this scenario, the ecosystem can move forward, but it would be pointless to wait for large price increases.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.