The gigantic number of SHIB tokens burned is causing the supply to drop dramatically. At the same time, SHIB holders continue to increase. The number of Shiba Inu holders has reached another milestone.
SHIBs on the market are becoming fewer and fewer
Following the data, presented by the portal aggregating statistics on Shiba Inu, Crypto Eye, we learn that in August alone the supply of SHIB fell by 3.6 billion tokens. This is how many of them were burned in the regular processes in this ecosystem. The word “burning” here is conventional, as in practice these coins are sent to a wallet from which they cannot later be recovered. As a result, they completely and irrevocably disappear from the market. The total amount of dog coins neutralized during the summer was 12.67 billion. Their total value is $154,507. As Crypto Eye reports, there are only 589.62 trillion SHIBs left in circulation. This represents only 59% of the total supply.
However, it is worth noting that official cryptocurrency monitoring platforms, such as Coinmarketcap, do not confirm the figures for the predicted total SHIB supply.
Significant increase in Shiba Inu holders
Meanwhile, according to Crypto Eye data, we can see that the number of SHIB holders has increased significantly. At the time of this writing, it already exceeds two million. Comparing it with the results from May of this year, we can note that there are already twice as many Shiba Inu investors, or speculators. An influx of 27,420 was recorded in August alone.
Ambiguous data on the state of the SHIB supply
Information on the state of the total Shiba Inu supply, however, seems inconclusive. As we mentioned above they are not confirmed by the leading data accumulation portals. Other sources report burning an average of $154,507 per quarter, for a total of $618,028 per year. This amount slightly exceeds 1% of SHIB’s total capitalization. In summary, the overall figure is far from the percentage of burned coins presented by Crypto Eye.
Shiba Inu’s programmed price increase
Regardless of how much the total amount of SHIB tokens burned is, it is worth remembering that this procedure continues uninterruptedly, regularly reducing the supply of Shiba Inu on the market. This aspect, combined with the constantly arriving information on the development of the dog coin, could affect future significant increases in its price. On the other hand, you can read about the latest development that could affect the widespread adoption of the SHIB in the article titled: “What impact the Binance and VirtuZone partnership will have on Shiba Inu”.