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Will 14M SHIB Burned Be Enough to Boost the Shiba Inu Price? – Crypto News
Shiba Inu price remains in a critical zone amid the declining demand for meme coins. However, despite the token holding well on the charts. More is anticipated with its continuous SHIB burn practice, implemented to reduce its supply and boost demand. The key principle behind this is that supply affects price. So, will the price react as its supply decreased by 14M today? Let’s discuss. 14M SHIB Burned Today, Shiba Inu Price to React? The SHIB burn was implemented way after the inception of the cryptocurrency. Its high token supply is seen as a barrier, so this decision was made with the community’s approval. Every day, a significant amount of the Shiba Inu tokens are burnt, and the price reacts one way or another. In the last 24 hours, 14M Shiba Inu have been burned, another 23M hours before that, bringing the total burnt supply to 410.7T. However, despite this,… Read More at Coingape.com
The post Will 14M SHIB Burned Be Enough to Boost the Shiba Inu Price? appeared first on CoinGape.
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