Crypto Blog
Despite increased burn efforts and advancements in the layer-2 scaling solution, Shibarium, SHIB’s price remains down, reflecting the overall market correction.by 2,800% in the past 24 hours, resulting in almost 8 million tokens removed from circulation. Data shows that over 50% of the amount was destroyed in a single transaction approximately 17 hours ago.
The burning program aims to reduce the tremendous supply of the meme coin and create potential value appreciation through scarcity. SHIB has a maximum supply of 999,982,363,413,352 tokens, with more than 41% already sent to a null address. The mechanism is rather complicated and involves both automatic and manual burns. If you want to learn more about it, feel free to read our dedicated guideHowever, it’s worth noting that SHIB remains deep in the red, plummeting by 3% on a daily scale and 6% weekly .
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SHIB Burns On Fire Despite SHIB Price Going DownMajor Shiba Inu metric shows an increase close to 70% despite a major SHIB price decline
Read more »
4 Trillion SHIB Hit Exchanges in Past 2 Weeks Triggering SHIB Price CrashTrillions of Shiba Inu have been sent to cryptocurrency trading platforms while SHIB surged to its recent peak and then staged a rollback
Read more »
Major SHIB Call Issued by Shiba Inu Team to Community, Here's What It SaysSHIB team representative has addressed Shiba Inu critics and SHIB community
Read more »
2 Trillion Shiba Inu (SHIB) in 24 Hours: Shiba Inu (SHIB) on Verge of Surge?Shiba Inu whales are still active, but it doesn't really help
Read more »
Half Trillion Shiba Inu (SHIB) in 24 Hours: Is Shiba Inu (SHIB) Hiding Something?Shiba Inu saw another whale-tier transactions surge
Read more »
Shytoshi Kusama Discusses SHIB ETF Chances: “I’ll Stay Focused on What’s Coming for SHIB”Shiba Inu lead developer shares his take on the spot Ethereum ETF approval, shares his plans for SHIB
Read more »