Shiba Inu coin price dodders sideways like other leading cryptos in the market. Despite the dismal start to the week easing into widespread consolidation, prices have not moved much. However, if the current technical structure continues to improve, a major breakout would be anticipated this weekend, with SHIB exploding by a staggering 70% to tag its highest point in 2024 of $0.00004563.
Shiba Inu Coin Price Consolidates As SHIB Burn Rate Nosedives
Shiba Inu’s token burn rate has come a long way, considering the more than 410 trillion coins removed from active circulation. This underscores the ecosystem’s commitment to reducing the supply of the second-largest meme coin, which started with a maximum supply of slightly over 999 trillion.
The incredible burn mechanism is supported by community members, and stakeholders as well as other protocols within the ecosystem such as the layer 2 scaling solution Shibarium.
At the time of writing, Shiba Inu boasts approximately 583 trillion
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