In the last 24 hours, the Shiba Inu burn portal has burned almost 1.5 billion SHIB tokens. The SHIB burn site has documented hundreds of SHIB trades worth thousands of dollars in value since its launch earlier this month.
The SHIB token fire site has been visited by thousands of people. The burn portal was said to have burned about 410,000 SHIB tokens till that time. The fundamental goal of the burn portal is to create demand and raise prices by limiting supply.
To compute burns 3 addresses must be involved: 2 dead wallets with no functional keys, and tokens delivered to the Genesis address (Black Hole), cutting the number of each of these tokens by one. The SHIB burn rate has risen by 300% to 929.52%.
SHIB tokens still attract new customers
The burn initiatives of SHIB tokens in its pricing, however, have been terrible. Even after the token’s recent poor performance, the Shiba Army is unaffected by the SHIB pricing. SHIB token was able to attract new customers and extend its usage.
SHIB has added almost 15,000 new wallet holders. The SHIB army is looking forward to receiving their Shibarium this month or in June 2022. SHIB’s price may rise because of the excitement produced by the launch. Today’s SHIB tokens price is $0.000012 USD with a 24-hour trading volume of $422,467,300 USD. In the previous 24 hours, SHIB tokens have dropped 2.26%.
