- Shiba Inu Token is a decentralised Cryptocurrency created in august 2020 by a group called as “Ryoshi”.
- Shiba Inu is a popular meme coin and etherium-based token alternative to DogeCoin also known as DogeCoin killer.
- About 45% of Shiba Inu’s total supply is burned- meaning burned coins are no longer in circulation.
As we have seen Shiba Inu Token price continuously increasing due to token they burn which pump the price rate of Shiba Token.
When Shiba Launched the Token has Market supply of around 1 Quadrillion Tokens but with time to time Team behind Shiba Token burning Allmost half of Shiba Token to increase demand and Price rate of token.
Recently in past few days Shiba token has over 125 million Shiba Tokens and over 5.5 million Shiba Tokens in 01/01/2022 in an single Day.
In total 451 Trillion coins have been burned representing about 45% of total supply of Shib Coin.
Also in November 2021 they burned almost 2 Billion Shib Token to increase the price rate.
To achieve a high price rate of Shiba Tokens. Team Shib has to Burn more and more Shib Token as his competitive cousin Doge Coin has Market supply of 132,670,764,300 Doge Coins only. There is huge difference between Market supply of both meme coins.