Shiba Inu (SHIB) is changing its growth strategies amid uncertainty and market gyrations. Amid a drop in its price, Shiba Inu has seen a visible rebound in its deflationary metric, the burn rate. At the time of writing this article, the burning rate has increased by 867.78% with a total of 12,688,018 SHIB sent to dead wallets.
Shiba Inu (SHIB) is shifting its growth strategies amid broader uncertainty and market gyrations. Amid a drop in its price, Shiba Inu has seen a visible rebound in its deflationary metric, the burn rate. At the time of writing this article, the burning rate has increased by 867.78% with a total of 12,688,018 SHIB sent to dead wallets.
By dollar valuation, the 12 million SHIB burned may be small, however, it marks a story of consistency within the meme coin community. Consistency like this is considered a fundamental key to achieving its objectives of deflating the supply of the digital currency.
Alex DovbnyaThe latest SHIB withdrawn from circulation has driven the total Shiba Inu cremated to date to drop to 12,688,018 SHIB tokens. Furthermore, the remaining Shiba Inu in circulation is now pegged at 583,076,408,841,878 SHIB, showing steady growth in overall deflation.
SHIB burning has several implications for the meme coin, with the ultimate goal being its contribution to the token’s price growth. However, at the time of writing, Shiba Inu is in bearish or reverse mode with a drop of 6.57% in 24 hours to $0.0000238 despite a increase in net flow. This negative growth trend aligns with the overall market sentiment despite derailing SHIB’s growth towards the $0.00003 price mark.
With this turn of events, market watchers are interested to see where the latest burning rate will peak and whether or not it can influence the token’s price performance in the future. It is worth noting that the presence of ShibaSwap is increasing the odds of a transaction boom as well as an increase in the total tokens sent to the burned address.
Yuri MolchanShiba Inu has continued to remain optimistic about its prospects of reaching 1 cent. The community hopes that ShibarioEngagement potential and incoming recording portal will contribute to this milestone.
