A burn mechanism built into Shiba Inu ($SHIB ) is intended to progressively lower the amount of SHIB tokens in circulation over time.
To properly remove the tokens from circulation, the development team sends a percentage of them to the burn address on a regular basis.
Token holders have visibility into this process, which is public and trackable on the #Ethereum blockchain, guaranteeing accountability.
The burn rate is intended to offset potential inflationary pressures resulting from the issuance or distribution of additional tokens. Token burns are made easier by the #Shibainu burn gateway.
Significant spikes in the burn rate for #SHIB have been seen; on September 16, 2023, there was a 350% increase in the burn rate in the previous day.
Over the past day, the SHIB burn rate has decreased by -16.18%, which has led to the removal of 104,639,578 SHIB tokens from circulation 6.
The #crypto community keeps a close eye on burn rates since they can have a big impact on a token's price and contribute to the reduction of token supply.
