What is the impact of burning shiba coins on the overall supply?

3 answers

• Nov 24, 2021 · 3 years ago
  Burning shiba coins can have a significant impact on the overall supply of the cryptocurrency. When coins are burned, they are permanently removed from circulation, which reduces the total supply. This reduction in supply can potentially increase the value of the remaining coins, as the scarcity of the asset increases. It also helps to maintain a healthy balance between supply and demand, preventing inflationary pressures. Overall, burning shiba coins can be seen as a strategy to create value and promote a sustainable ecosystem.
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• Nov 24, 2021 · 3 years ago
  Burning shiba coins is like taking them out of circulation and throwing them into a virtual fire. By doing so, the total supply of the cryptocurrency decreases. This reduction in supply can potentially lead to an increase in the value of the remaining coins. It's similar to the concept of scarcity - when something becomes rarer, its value tends to go up. So, burning shiba coins can be seen as a way to create scarcity and potentially increase the value of the cryptocurrency.
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• Nov 24, 2021 · 3 years ago
  Burning shiba coins has a direct impact on the overall supply of the cryptocurrency. When coins are burned, they are permanently removed from circulation, which reduces the total supply. This reduction in supply can lead to an increase in the value of the remaining coins, as the scarcity of the asset increases. It's important to note that burning shiba coins is a decision made by the community and can be seen as a way to manage the supply and create value for the cryptocurrency holders.
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