Shiba Inu, one of the most famous meme coins, has seen a significant price surge in a day as the value has surged 20% from yesterday. The token is trading at $0.00002767 with a market cap of $16.29B after a 19% surge. The credit for this surge goes to the recent SHIB Burn, which has pushed the total supply down by a huge percentage.
The Shiba Inu burn will eventually lead to increased demand for the token. It has been already proven by the last burning of the Shiba Inu token, as in 24 hours, the trading volume has surged more than 116%, pushing the value to $1.18B.
What Is Meant By Shiba Inu Burn?
SHIB Burn talks about burning a proportion of the SHIB token supply in an attempt to increase the demand for the token by limiting supply. However, Shiba Inu has such a huge supply that the SHIB developers should initiate the token-burning process regularly.
Shiba Inu, or any other cryptocurrency, is not a physical currency, so the burning doesn’t talk of actual burning. Instead, it talks a
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