According to November data, approximately 2 billion SHIB were burned by the SHIB community. Thus, a total of 410,298,489,440,804 of the 1 quadrillion initial supply was burned.
As is known, burned tokens are permanently removed from circulation. As the circulating supply decreases, the price of the Shiba Inu is expected to increase.
According to Shiba Inu burn tracker Shibburn, a total of 410,296,586,422,853 SHIB tokens (41,02966%) were burned from the initial supply of one quadrillion at the beginning of November, compared to 410,298,449,011,405 (41.02984% of the initial supply) as of December 1st. rose, resulting in an increase of approximately 1.9 billion in tokens burned.
In the last hour, a total of 7,409,202 SHIB tokens were burned and two transactions were made.
Currently the SHIB supply is only burned when the owner of a Shiboshi NFT pays $100 in SHIB to rename the NFT.
With the effect of all these burns, it is also possible that the Shiba Inu will increase in value. On the other hand, the Shiba Inu game recently introduced by the lead developer of the SHIB team, Shytoshi Kusama, will also be an important factor in facilitating the burning process, as it will be used to burn large amounts of SHIB to reduce the supply of the token.
As of the writing of our news, SHIB is trading at $0.00004116. The famous dog meme coin, which recently passed Avalanche and settled in 11th place, has lost approximately 2.3% in value in the last 24 hours, falling to 13th place and its market value has reached 23.32 billion dollars. According to CoinMarketCap, Terra’s native staking token LUNA managed to reach a new ATH of $69.66 yesterday, bringing its market value to $25 billion, making it more valuable than Shiba Inu. LUNA is currently ranked 11th and is trading at $69.36.
*Not Investment Advice.