Shiba Inu (SHIB) burned tokens in order to reach the top ten in terms of cryptocurrency market capitalization. On March 6, 2024, Shiba Inu destroyed 146 million SHIB tokens. The burning is a purposeful act to create scarcity and boost the value of Shiba Inu (SHIB). This was accomplished in three massive burns in which Shiba Inu (SHIB) tokens were transferred to dead wallets.
The value of Shiba Inu (SHIB) has risen dramatically as a result of the recent Elon meme coin spike. Furthermore, Shiba Inu introduced its SHIB-themed product “SHIB Names” at a significant discount. On that topic, its domain partner D3Inc took to X to announce that SHIB name registration officially started on March 6.
Given all of these events, the price of Shiba Inu (SHIB) was certain to rise. On March 7, Shiba Inu (SHIB) was trading at $0.00003194, up 128.13% in the previous week. Analysts predict that SHIB will grow to $0.00003455 in March, driven by increased demand for the token.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
