What is Shiba Inu burn rate?

The Shiba Inu burn rate is the rate at which the total supply of SHIB tokens is reduced. But how do you burn digital currency? The more you learn about crypto, the more you will realize how simple things actually are — and how we use a lot of jargon to explain multiple concepts. Here’s everything you need to know about Shiba Inu and coin burning.

Why is Shiba Inu so valuable?

Shiba Inu is the second most valuable meme coin by market cap, second only to Dogecoin. Launched only in 2020, the token has seen its popularity and value soar. SHIB is known for its high supply, which started at one quadrillion tokens. Over the years, that supply has gradually reduced due to the Shiba Inu coin burn.

What is shibburn & how does it work?

Holders burned 20 billion Shiba Inu on the portal within five days of its launch. The burning portal allows holders to send their SHIB tokens to a specific burn address. ShibBurn was inspired by Ethereum creator Vitalik Buterin’s May 2021 $6.7 billion SHIB token burn. There are three addresses for burning on the portal.

Where can I Burn shibaswap (Shib)?

There are three addresses for burning on the portal. One is the same address Vitalik used to burn his SHIB holdings, another is the same one that is used for ShibaSwap listings. The last is the Ethereum genesis address, dubbed the “black hole” address. There is no formal schedule for burning SHIB.