The Shiba Inu (SHIB) community achieved a notable milestone in 2024, burning over 44 billion SHIB tokens. While the burn mechanism is functioning, the community desires a more aggressive approach to reduce the circulating supply.
The SHIB community and the Shiba Inu developer team, through combined efforts, have succeeded in burning 44,623,604,014 SHIB tokens in 2024. This equates to approximately $928,170 worth of SHIB . The team implemented an automated SHIB burn mechanism that operates via the Shibarium Layer-2 network, utilizing transaction fees converted from BONE to SHIB for the burning process. Each month, the team removes roughly 300,000 SHIB tokens from the circulating supply.
Despite these efforts, the community expressed disappointment, desiring more significant burn amounts in the coming year
SHIB Burn Shibarium Cryptocurrency Community
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