How SHIB’s January Token Burn Could Affect Its Future Value
How SHIB’s January Token Burn Could Affect Its Future Value
Shiba Inu (SHIB) is a popular cryptocurrency trading that has attracted a lot of attention with its token burn events. A token burn is a process of permanently removing a certain amount of tokens from circulation, which can affect the supply and demand of the token and its price. In this article, we will look at the details of the token burn that happened in January 2024, how it compares to previous months, and what it means for future value.
How Many SHIB Tokens Were Burned in January 2024?
In January 2024, the Shiba Inu project burned about 9.9 billion tokens, which was equivalent to about $88,348 at the time. This was a significant reduction of the token’s circulating supply, which could have a positive impact on its price.Ho...