SHIB Army Reduces Supply by Burning Nearly 2 Billion Coins

In the world of cryptocurrency, the Shiba Inu (SHIB) has been making waves. The meme coin gained popularity in recent weeks and has managed to attract a dedicated community of supporters, affectionately known as the “SHIB army.” Over the past week, the SHIB army has been busy burning their meme coins in an effort to increase the value of the remaining coins.

According to data shared by Shibburn, a cryptocurrency transaction tracker, over the past week, the SHIB army has burned nearly 2 billion SHIB. This means that a total of 1,740,061,669 Shiba Inu coins have been removed from circulation and locked in unspendable wallets. This is a significant decrease compared to the previous week, where nearly 5 billion coins were burned. The reduction in the number of coins being burned suggests that the hype surrounding the meme coin may be cooling off.

Despite the decrease in the number of coins being burned, the price of SHIB has started to recover from its recent losses. In the past 24 hours, the amount of SHIB burned stands at 8,029,996, which is the same as the previous day. This indicates that the SHIB army’s efforts to burn the meme coins may have reached a plateau, but the coin’s value is still fluctuating.

According to the Shibarium tweet, the current price of SHIB stands at $0.00000887, which represents a 0.04% increase in the past hour and a 2.66% increase in the past 24 hours. The market cap for SHIB stands at $5,226,145,745, which is a 2.86% increase compared to the previous day. The total supply of SHIB currently stands at 589,361,030,802,738.

In conclusion, the SHIB army’s efforts to burn their meme coins have slowed down over the past week. However, the value of SHIB is still fluctuating and has shown signs of recovery in the past 24 hours. The future of the meme coin remains uncertain, but it is clear that the SHIB army is still determined to increase the value of their beloved cryptocurrency.

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