Shiba Inu records 700% surge in burn rate amid high trading activity

Despite a staggering 41.08% of Shiba Inu's initial supply being burnt, including a 700% surge in burn rate recently, the actual value removed from circulation in the last 24 hours was a mere $141. This suggests that token burning, often touted as a deflationary practice, is a completely ineffective strategy for a multi-billion dollar asset like SHIB. Is this just a marketing gimmick, or does it genuinely impact scarcity?
This summary was generated by AI