​ Only 394 Million SHIB Burned This Week, Here's Why Mechanism | Crypto Sale

​ Only 394 Million SHIB Burned This Week, Here's Why Mechanism Is Not Effective

The Shibburn portal, which reports on the number of SHIB that have been burned, has once again announced that 30.43 million SHIB have been burned in the last 24 hours. Normally, such news is greeted with joy by optimistic Shiba Inu fans, because the burning, especially of millions of SHIBs, is meant to reduce the number of coins in circulation and, through deflation, increase the price of SHIB.

Nevertheless, six-figure burning amounts do not work in the case of Shiba Inu, because 30 million SHIB is only $370, which is literally 0.0005% of the project's capitalization. Moreover, if you look at the statistics of SHIB burning for the last five days since the end of last week, it turns out that during this period 394 million SHIB were burnt, which in turn does not even exceed $5,000.