The Shiba Inu community regularly removes SHIB tokens from the supply in circulation. Another sizable amount of Shiba Inu meme coins have been moved to inactive wallets within the previous 24 hours.
SHIB, however, has been trading around the $0.000010 zone ever since dropping more than 6% on Wednesday. There’s a chance Shiba Inu will increase the price by another zero.
SHIB burn rate jumps nearly 390%
Shibburn, a tracking website, recently released a post on their Twitter account that stated that the SHIB community had burned 4,846,823 SHIB in the previous 24 hours, increasing the burn rate by 384%.
Although the overall amount of Shiba Inu burned has increased by more than 1,000% several times over the past week, only 21,184,222 SHIB have been consumed.
Comparing the two, that is 93.48% less than the previous week.
SHIB team working to build their own cold wallet
News has emerged regarding the Shiba Inu team creating a special cold storage wallet for SHIB, as previously reported by U.Today. Shiba Inu is now planning an AMA (“ask me anything”) session with the top cryptocurrency exchange Huobi and the smart contract-focused blockchain platform CertiK.
This might lead to a cooperation and engagement with these businesses, said the SHIB Discord source.
