If we look at the number of tokens burned, approximately 37.53 million SHIB tokens were sent to dead wallets in the last 24 hours. This is an exciting development for the Shiba Inu community. Because tokens sent to dead wallets are completely withdrawn from the market and never enter circulation again. In this way, the decrease in circulating supply affects the supply-demand balance, paving the way for a potential increase in the SHIB price.

Although the high total supply of Shiba Inu (around 589 trillion) is a matter of criticism, the practice of continuous token burning can turn this disadvantage into an advantage. Let’s take Bitcoin (BTC) as an example. Bitcoin’s limited supply (21 million) makes it one of the most deflationary cryptocurrencies. Therefore, if demand exceeds supply, the price of Bitcoin naturally rises. While Shiba Inu’s burning mechanism does not completely mimic the limited supply model in Bitcoin, it can make SHIB partially deflationary by reducing supply. This situation may contribute to the stabilization and upward movements of the SHIB price in the long term.

However, for now the Shiba Inu price does not move independently of general market trends. According to CoinMarketCap data, SHIB price has fallen by 4.83% in the last 24 hours and is currently trading at approximately $0.00001776. Similarly, the market value of Shiba Inu decreased by 4.82% to $10.47 billion. This shows that the SHIB price has not yet been positively affected by the increase in the burning rate.

However, investors need not be discouraged. Token burning is a long-term strategy. A one-time burn of 37.53 million tokens is not expected to push the price up immediately. The important thing is that this burning process continues continuously and steadily. The expansion of SHIB’s usage areas and increased adoption by the community, along with continuous token burning, may positively affect the supply-demand balance, causing the SHIB price to move upwards in the long term.

Although the Shiba Inu’s future is currently uncertain, the increased slaughter rate is a positive development. This determination could help SHIB solidify its place in the cryptocurrency market by increasing investors’ confidence. However, for the price of SHIB to really rise, the continuity of the burning mechanism as well as the expansion of the usage areas of the project and the community’s adoption of SHIB are required. The steps to be taken by the Shiba Inu team in the coming period and the support of the community are the most important factors that will shape the future of SHIB.