Shiba Inu has been burning more coins as of the first half of this year which is making holders even more bullish on holding the darling memecoin. The community has been holding strong even through the most recent crypto bear market we have all been going through.
How much Shiba Inu has been burned this year?
The burning of the shiba inu coins lowers the overall supply making the coins worth more (In theory) And the burn process happens across 4680 transactions involving multiple burn addresses, and users and holders were heavily involved in the whole process which makes the community even more a part of the entire project.
Throughout the last few months during different times Shiba had1.3 billion, 1.4 billion, and 6 billion burned which is a staggering amount all together.
What is totally crazy is that 1974 burn transactions, around 26 billion SHIB coins were burned in the month of April alone. And even more than that May outdid April and displayed over 31 billion SHIB burned with 1331 transactions. 70-80% of the total burn transactions were from April and May which make the start of 2022 an impressive reduction in overall supply of shiba inu coins.
Will more Shiba Inu be Burned?
Over the up-and-coming months there are talks of the total supply of Shib to continue to be burned in order to stay at a pace the community expects. Although this does not guarantee that Shiba Inu will move up in price in the up-and-coming year, it does fall in line with the project’s goal of lowering overall supply and continue to add value to the project!
Shiba Inu social dominance is only increasing! See the chart below!