The Shiba Inu coin, ofen dubbed the “Dogecoin killer,” has captured the attention of the crypto community not just for it’s whimsical mascot but also for the strategic burn events that have substantially impacted its supply dynamics.As holders and enthusiasts eagerly track the latest figures, the total amount of Shiba Inu coins burned stands at over 410 trillion, reducing the circulating supply and potentially increasing scarcity. This deflationary mechanism has prompted discussions about its long-term viability, with many questioning how burning tokens contributes to the overall health of the ecosystem and price stability.
Several notable burn initiatives have been launched by the community and various exchanges, further amplifying the burning effects. Some of these initiatives include:
- community-Driven Burn Events: Regularly organized events encouraging holders to send coins to unrecoverable wallets.
- exchange Partnerships: Collaborations with crypto exchanges where a percentage of trading fees are allocated for burns.
- Merchandise and NFT Sales: Proceeds from sales where part of the revenues are dedicated to burning SHIB tokens.
| Burn Initiative | Amount Burned (in billions) |
|---|---|
| Community Burn | 100 |
| Exchange Burn | 50 |
| NFT Sales | 25 |