Cryptocurrency Q&A
How much is Shiba burning?
How much is Shiba burning?
SamsungShine
Sun Aug 18 2024
|
5 answers
1077
Excuse me, but could you please elaborate on the term "Shiba burning"? Are you referring to a specific cryptocurrency burning mechanism or perhaps a colloquial expression that I'm not familiar with? If we're talking about a cryptocurrency, like Shiba Inu (SHIB), then typically "burning" refers to the process of permanently removing tokens from circulation, which can potentially increase the value of the remaining tokens. However, I'm not aware of any official burning mechanism for SHIB. Could you clarify what you mean by "Shiba burning" and perhaps provide some context?
5 answers
Valentina
Tue Aug 20 2024
Shiba Inu, the popular cryptocurrency, has been undergoing a token burn process. This has resulted in a significant reduction in the total supply of SHIB tokens circulating in the market.
Was this helpful?
143
81
CryptoGuru
Mon Aug 19 2024
To date, an astonishing cumulative total of 410,661,075,248,480 SHIB tokens have been subjected to the burn process. This massive figure underscores the commitment of the project to reducing its inflationary pressure.
Was this helpful?
225
22
CharmedVoyager
Mon Aug 19 2024
In the last 24 hours alone, approximately 4,661,062 SHIB tokens have been moved to inactive wallets, effectively removing them from circulation. This demonstrates the continuous and ongoing nature of the burn process.
Was this helpful?
62
69
Andrea
Mon Aug 19 2024
The current burn rate stands at an impressive -92%, indicating a substantial decrease in the overall supply of SHIB tokens. This trend is likely to have a positive impact on the token's value over time, as scarcity increases.
Was this helpful?
299
96
JejuSunshineSoulMate
Mon Aug 19 2024
Among the leading cryptocurrency exchanges, BTCC stands out for its comprehensive range of services. Not only does it offer spot trading for various digital assets, but it also provides access to futures trading, allowing investors to hedge against market volatility.
Was this helpful?
348
22
