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The Shiba Inu (SHIB) burn rate has surged by 18 million tokens over the past 48 hours, coinciding with the stabilization of the SHIB price. On Tuesday, over 12 million tokens were burned, followed by an additional 5.3 million on Wednesday.
The price of SHIB stabilized at $0.00001175 this week after previously hitting its lowest level in months. This stability contrasts with broader market trends, where many cryptocurrencies saw significant recoveries following Donald Trump's announcement to suspend tariffs on Mexican and Canadian goods.
A key factor contributing to SHIB's price stability is the increasing burn rate, which has significantly reduced the circulating supply. Recent data reveals that a single address transferred over 12.63 million SHIB tokens to the burn address, B-2, which now holds over 45.5 billion SHIB. Additionally, another address transferred 5 million tokens.
The burn rate has now led to the removal of more than 410 trillion SHIB tokens from circulation, reducing the total supply to approximately 589 trillion. This ongoing burn process strengthens the token economy and holds the potential to positively impact SHIB's price by creating scarcity over time.
#ShibaInu $SHIB ,