How does the total burned supply of Shiba Inu affect its price in the digital currency market?

1 answers

• sina mohammadzadehMay 28, 2024 · a year ago
  As an expert from BYDFi, I can say that the total burned supply of Shiba Inu can have a significant impact on its price in the digital currency market. When tokens are burned, it reduces the supply, which can create scarcity and drive up the price. This burning mechanism is designed to reward long-term holders and discourage short-term speculation. By reducing the supply, it can also help to stabilize the price and prevent excessive inflation. However, it's important to consider that the price of Shiba Inu is influenced by various factors, including market demand, overall market conditions, and investor sentiment.
  621

  311