The monthly SHIB burn rate has captured significant attention, particularly due to its impact on Shiba Inu's circulating supply. Approximately 125 million SHIB tokens have been burned over the past month, substantially reducing the coin supply in the market.
This massive reduction in supply has sparked renewed optimism among investors and market participants regarding Shiba Inu's potential price trajectory. The anticipation is that the decreased supply could drive the price up to potentially reach $0.0001 in the coming month of November.
Such movements in burn rates are often seen as bullish signals, drawing interest from the broader cryptocurrency community. The outcome remains to be seen, but the current sentiment suggests a positive outlook for Shiba Inu.
