Half a billion SHIB locked in dead wallets- Decoding what it means for investors

ambcrypto.com:

In April Shiba Inu introduced a burning portal allowing holders to permanently destroy their tokens. This was aimed at reducing the circulating supply while also enabling users to receive passive income. Since then, more than billions of such tokens exited circulation.

In fact, a week ago, over 1.4 billion tokens were burnt in over 160 transactions. At press time, the activity continued to garner interest.

The community burnt or rather destroyed nearly half a billion meme coins as per Shibburn crypto tracking service. To be precise, the community sent a total of 405,282,493 meme tokens of the circulating supply indead wallets. Thus, making the circulating supply shrink further. The burn rate, in fact, witnessed almost a 100% hike as seen in the graph below.

Source: Shibburn

Well, they aim to make Shiba Inu slightly more scarce with a potential of a price increase in the long term. The portal, within a week, recorded 25 billion SHIB burnt out of the circulating supply.