Shiba Inu has removed over six million SHIB tokens from circulation in the past 24 hours, reinforcing its deflationary supply trend. This latest burn activity, reported by Shibburn, brings the weekly total to 33.5 million SHIB, with monthly burns nearing 197.4 million tokens. The cumulative burn now accounts for over 410.8 trillion SHIB, approximately 41% of the original supply, valued at over $7.3 billion.
Despite a 37.28% increase in daily burn activity, weekly figures saw a decline of over 40%, indicating mixed participation from the community. Shiba Inu remains a popular asset among Indian traders, ranking among the top five traded cryptocurrencies on WazirX in April. SHIB's price has shown resilience, trading near $0.00000641, with a 2% daily gain and a 3% weekly increase, as it continues to hover between $0.0000058 and $0.00000656 since mid-March.
Shiba Inu Burns 6 Million SHIB Tokens, Enhancing Deflationary Trends
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