TechFlow news, May 10 — According to Tokocrypto News, Shiba Inu (SHIB) burned over 67 million tokens in the past week, with the burn rate spiking by 3000% within 24 hours. The SHIB development team is considering an aggressive token burning strategy aiming to burn 1 trillion SHIB per day. If achieved, this would result in approximately 365 trillion SHIB being burned annually, reducing the current circulating supply by 62%.
Analysts predict that, assuming market capitalization remains constant, this reduction in supply could drive the SHIB price up by 167% to around $0.000037. The Shibarium Layer-2 network plays a crucial role in this burn strategy. Currently, its total value locked stands at about $3 million, but it needs to grow to $1 billion to support the daily burn target.
