The topic of burning SHIBA (SHIB) coins is actively discussed on the Binance platform and in the crypto community, which is seen as a step towards a deflationary model of the asset. According to recent data, the burn rate has increased by over 500% in a short period over 24 hours, and recently more than 70 million SHIB coins have been removed from circulation. In total, since the beginning of the initiative, about 410 trillion tokens have been destroyed, which should reduce the total supply that remains at 583 trillion SHIB.
Coin burning is aimed at reducing their availability, which could potentially increase the price in the long term. However, the current impact on the price of SHIB is minimal due to the overall bearish sentiment in the cryptocurrency market. At the same time, the community is also discussing possible new steps, such as launching an ETF based on SHIB, which could increase demand and enhance the coin's availability.
