Shiba Inu Price Surges 3.051% as Supply Reduction Efforts Intensify

Shiba Inu's latest price was $0.00001181, up 3.051% in the last 24 hours. The Shiba Inu ecosystem has seen a notable increase in efforts to reduce the token supply, with the burn rate surging by an impressive 10,786%. This significant event resulted in the permanent removal of over 9.5 million SHIB tokens from circulation. The aggressive supply reduction campaign is a key strategy employed by the Shiba Inu community, often referred to as the SHIB Army.

In addition to the supply reduction efforts, there has been substantial accumulation by major investors, commonly known as whales. Network activity analysis revealed that the netflow for large holders increased dramatically by 764% within a single week. This trend of accumulation has been sustained over a longer period, with a positive 30-day change of +83% in large holder netflow. The combined effect of the intensified burning mechanism and significant whale accumulation actively decreases the total available supply of Shiba Inu tokens circulating on the market. This focus on active supply reduction underscores the community's ongoing efforts and commitment to the project's long-term health.