Shiba Inu Experiences Dramatic Supply Reduction, Despite Price Dip

Shiba Inu (SHIB) has seen a significant reduction in its circulating supply this week, with over 116 million tokens burned in a dramatic deflationary move. This surge in burning comes after the coin’s price dropped by 2% within 24 hours and approximately 5% over the past week, currently settling around $0.00001190. While this strategy aims to bolster SHIB’s value in the long term, the market response has been mixed. 1.5 million new wallet addresses have emerged since the burn, indicating increased interest and market penetration within the ecosystem.