Shiba Inu has initiated a major token burn, which is a deliberate process to reduce the supply of a cryptocurrency by permanently removing a certain amount of coins from circulation.
This strategic move has sparked optimism among investors and market analysts, as a reduced supply can increase the demand and potentially raise the price of the remaining tokens.
Investors are particularly hopeful about reaching a target price of $0.0001, reflecting positive sentiment in the market.
The recent burn can be seen as an effort by Shiba Inu developers and community to enhance the value proposition of the currency amidst growing competition in the crypto space.
