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Shiba Inu’s burn rate soared significantly today, with over two million tokens removed from circulation.substantially today , jumping 90% compared to the previous day. This resulted in over two million assets being removed from circulation.
According to Shibburn, almost 1.7 billion SHIB tokens were burned last month following 204 transactions. The team behind the meme coin revealed thatto any big news or anything as many reported… it’s just folks making mistakes, sending their tokens to the CA, and losing their investments as a result. Be careful and double-check where you send your tokens so it doesn’t happen to you,” the developers
The burning program’s ultimate goal is to reduce the tremendous supply of SHIB tokens, making them scarcer and potentially more valuable over time. Despite those efforts, the meme coin’s price is down over 20% weekly amid a broader crypto market decline.The development of Shiba Inu’s layer-2 scaling solution – Shibarium – is another factor that may contribute to a potential bull run for the asset in the future.
Shibarium’s primary goal is to elevate Shiba Inu above its rivals in the meme coin realm by reducing transaction fees and boosting speed.
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