Shiba Inu's profitability soars to 41%, SHIB price attempts key resistance ShibArmy
In the last 24 hours, the rypto burn tracker on Twitter,, has reported that nearly 190 million canine SHIB tokens have been burned to try to make the second biggest meme crypto more scarce and reduce its circulating supply.
On March 23, Bigger Entertainment CEO Steven Cooper disclosed that since October 2021, when the Shiba Inu community began to burn its tokens, nearly 263.4 billion SHIB have been burned by various projects and individuals. NOWPayments, a noncustodial crypto payments processor, recently announced the introduction of a new feature that allows merchants to burn a portion of profits they receive in Shiba Inu or Doge Killer .
Burning refers to the process of permanently removing a certain amount of tokens from circulation. This is believed to make the token scarce, thus driving up value in the long run.Shib retested the key barrier at $0.0000253 as it continued its three-day advance, reaching highs of $0.0000253 at the time of publication.
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