In the last 48 hours, the burn rate of Shiba Inu increased by 579%, resulting in the destruction of approximately 10 million tokens. The number of tokens burned weekly reaches 57.6 million. This burning mechanism is a strategic approach that aims to create scarcity by keeping the supply of SHIB under control, thus providing potential value increase. The maximum supply of Shiba Inu is 999,982,363,413,352 tokens, 40% of which have already been sent to a permanently vacant address. 🚀🔥

Although the price of the Shiba Inu fell slightly on a daily basis, it managed to stay in the green zone on a weekly scale. It is currently trading at around $0.00002401, which represents a 9% increase from last Monday.

Shiba Inu is not the only cryptocurrency to adopt the burning mechanism. Binance Coin ($BNB ) and Floki Inu ($FLOKI ) are other important examples that implement this strategy. The BNB team performs burning every quarter. This transaction involves repurchasing tokens from the market with a portion of Binance's profits and permanently destroying them, with their ultimate goal being to reduce the total supply to 100 million BNB.

On the other hand, Floki DAO (the decentralized autonomous organization that manages the meme coin Floki Inu) recently decided to destroy more than 15 billion tokens. This step coincided with a significant wave of increases in the price of the meme coin. $FLOKI shows weekly increases of 15% and monthly increases of 37%. The asset's market cap is approaching $2 billion, making it the fifth-largest cryptocurrency in its field and the 59th-largest cryptocurrency overall.