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SHIB burn rate skyrocketed to 3000%, and the development team is considering burning 1 trillion Tokens daily.
According to Deep Tide TechFlow news on May 10, Tokocrypto News reported that Shiba Inu (SHIB) burned more than 67 million tokens in the past week, with the burning rate surging to 3000% within 24 hours. The SHIB development team is considering implementing an aggressive token burning strategy, aiming to burn 1 trillion SHIB daily. If this goal is achieved, approximately 365 trillion SHIB will be burned within a year, reducing the current circulating supply by 62%.
Analysts predict that with the market capitalization remaining unchanged, this decrease in supply could drive the SHIB price up by 167%, reaching about $0.000037. The Shibarium layer two network plays a key role in this burning strategy, currently with a total locked value of about $3 million, but it needs to grow to $1 billion to support the daily burning target.