The Shiba Inu team launched the burn portal to help address the issue of the massive supply of the SHIB tokens.The adoption of the burn portal has been impressive so far. In fact, over 400 trillion tokens have been burned.
Shiba Inu burns about 400 trillion tokens to cap supply; bleeds 13%.Shiba Inu (SHIB), the second-largest meme coin, which has tumbled almost 13 per cent in the last few hours, back into the red on a weekly basis.
The token, which trades for some fractional cents, plunged to $0.000009699 on Wednesday from $0.00001108. However, it was trading for $0.000009859 at 13.45 hours IST.
The total market of Shiba Inu was a little over $5.4 billion, with volume remaining flat as coins worth $505.65 million exchanged hands in the last 24 hours.
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