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- $SHIB burns up 103.45%, with 34,681,610 $SHIB burned in 24 hours, a significant increase in the burn rate.
- $SHIB’s marketing lead expects a new all-time high before or after April’s Bitcoin halving.
- Despite recent declines, $SHIB shows resilience with a 4.50% surge, trading at $0.0000271.
Over the past day, the Shiba Inu ($SHIB) community has witnessed a significant surge in the number of tokens locked away in unspendable wallets, signaling a concerted effort to reduce the circulating supply.
According to data from Shibburn, a platform tracking $SHIB burns, an impressive 103.45% increase in token burns has been recorded within the last 24 hours alone. This surge culminated in the incineration of 34,681,610 $SHIB tokens, a substantial figure achieved through multiple transfers to inaccessible wallets. Notably, the largest of these transfers accounted for a staggering 97.08% of the total burned amount, indicating a concerted effort within the $SHIB community to bolster scarcity.
Token burns have become a regular occurrence within the $SHIB ecosystem, with the community and project team collaborating to diminish the token supply. The $SHIB team, in particular, contributes by converting Shibarium gas fees into $SHIB tokens and subsequently incinerating billions of tokens periodically.
In light of these developments, Lucie, the marketing lead of $SHIB, expressed optimism regarding the coin’s future trajectory. While the broader cryptocurrency market grapples with a phase of price reversal, Lucie remains bullish on $SHIB’s prospects.
With the Bitcoin halving slated for the latter half of April, anticipation mounts within the $SHIB community for potential price milestones. Despite currently trading at $0.0000271 following a 4.50% increase in the last 24 hours, $SHIB enthusiasts remain hopeful for further gains in the near future.