Does Shiba Inu have a burn rate?

The burn rate was already high for SHIB. In March, 6 billion SHIB were destroyed, a number that reached 10 billion individual burns in April —before the advent of the Shiba Inu portal. Shiba Inu has three burn addresses. These are part of the Ethereum network and are also used for other tokens.

What if Shiba Inu had a market cap?

You would have to burn roughly 95% of SHIB’s initial total supply to achieve this goal if SHIB had bitcoin’s market cap. Even so, this would still leave a remaining supply of 55 trillion SHIB. Unlike many protocols, there is no enshrined or formal mechanism for burning SHIB tokens. The Shiba Inu burn rate is wholly community driven.

How do you burn Shiba Inu tokens?

Unlike many protocols, there is no enshrined or formal mechanism for burning SHIB tokens. The Shiba Inu burn rate is wholly community driven. As such, there are many creative ways for hodlers to burn tokens — even without sacrificing their own. Some of these include:

What happened to Shiba Inu in April 2022?

But in April 2022, the Shiba Inu burn portal was announced, allowing SHIB holders to burn their tokens and receive burn rewards. The burn rate was already high for SHIB. In March, 6 billion SHIB were destroyed, a number that reached 10 billion individual burns in April —before the advent of the Shiba Inu portal.