Shiba Inu (SHIB) has recently commenced March with a notable uptrend in its deflationary campaign. The burning rate over the last 24 hours has surged to an astonishing 30,187.99%, with a total of 3,759,043 SHIB sent to the dead wallets.
Shiba Inu’s Strategic Agenda
Remaining a focal point on the radar or watchlists of many community members, Shiba Inu exhibits a consistent deflationary trajectory, marked by fresh highs in the total supply, affirming the potential momentum for price increases. The current burning activity has brought the total burned quantity of Shiba Inu to 410,708,759,005,968 SHIB, leaving a circulating total of 581,653,928,920,940 SHIB.
While there’s still a long way to go, reducing excess supply remains Shiba Inu’s primary avenue to increase its price and restore value to its holders over the long term. To further enhance the burning agenda, the development team looks to implement Shibarium, a second-layer scaling solution, to automatically decrease the supplies of the distinctive token.
Although the timeline for the launch of the scaling solution is still unknown, its anticipated arrival has significantly bolstered the faith of many SHIB holders in a promising future.
Shiba Inu’s Price Dynamics
Since the beginning of the year, the Shiba Inu index has surged to its highest level by 25.12%, indicating overall growth thus far. However, at the time of writing, SHIB is trading at $0.00001305 during the past 24 hours. Price expectations for the long term may fluctuate, but the ongoing correction currently mirrors the overall market trend after the selective surge in the past few weeks.
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