Shiba Inu's burn activity has shown a notable increase over the past week, despite a recent daily decline. This trend highlights the community's ongoing commitment to reducing the circulating supply of the cryptocurrency, as the publication provides the following information:
Significant Increase in SHIB Token Burn Rate
In the last seven days, a total of 193,830,385 SHIB tokens were burned, marking a significant 50.242% rise in the burn rate compared to the previous week. This increase in weekly burn statistics underscores the effectiveness of the community's initiatives aimed at decreasing the overall supply of SHIB.
Sustained Efforts in Token Supply Management
Despite daily fluctuations in burn activity, the overall trend remains positive, indicating a sustained effort to manage the token's supply. As the total supply of SHIB continues to decline, these efforts contribute to long-term strategies for value enhancement and scarcity in the market.
In light of Shiba Inu's recent increase in burn activity, the community is also addressing the financial impact of the Plasma Bridge exploit. The new repayment system, Shib Owes You, aims to assist affected users; read more.
