Shiba Inu continues to draw attention due to its token burning model. According to recent data, the total supply of SHIB tokens has significantly decreased.
Token Burn of SHIB and Current Supply
According to the latest data from Shibburn, the total supply of SHIB tokens now stands at 589.25 trillion, marking a significant decrease from the initial supply of 1 quadrillion tokens.
In the past 24 hours alone, 13.5 million tokens have been burned, corresponding to a 1,906.84% increase in the burn rate. Since the inception of the burn initiative, 41% of the initial supply, or 410 trillion tokens, has been permanently removed.
Shiba Inu's Deflationary Model and Its Impact
Shiba Inu's deflationary model relies on strategic token burns, where tokens are sent to 'dead' wallets, making them inaccessible. This significantly reduces the circulating supply.
Vitalik Buterin, co-founder of Ethereum, burned 410 trillion SHIB tokens that he received unwillingly from the Shiba Inu project, further igniting community interest.
Development of Shiba Inu Infrastructure
The infrastructure of Shiba Inu continues to grow. The recently launched dApp Store is just the beginning. Earlier this month, the beta version of Shib Alpha Layer was unveiled, providing opportunities for developers to launch unique RollApps on the Shibarium platform.
Shiba Inu plans to introduce Fully Homomorphic Encryption (FHE), which will provide privacy features for developers, currently lacking in most blockchains.
The Shiba Inu community demonstrates ongoing commitment to long-term deflation goals through token burning and infrastructure improvements, laying the groundwork for further growth and attracting new participants.
