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Community Burns 834 Million Shiba Inu in a Week

The Shiba Inu community has burned 834 million SHIB tokens in a week. The article notes that the burn was initiated by the community in response to concerns about the token's high supply and inflationary pressure.

The burn was achieved through a process called "proof of burn," which involves sending tokens to an address that is designed to be unspendable and effectively removes them from circulation. The article notes that the burn has reduced the total supply of SHIB tokens by approximately 2%.

The Shiba Inu community has been actively working to address other concerns about the token, including its lack of utility and the potential for price manipulation. The community has been exploring ways to increase the token's use cases and improve its overall value proposition.

(by Zabi)

Shiba Inu SHIB
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