Shiba Inu Who? 5 Underrated Protocols Fueling Deflation Through Burning

Quick Summary:

Shiba Inu (SHIB) has transitioned from a meme-inspired token to an integral part of a decentralized financial network.

One critical aspect of its strategy is the burn rate, which involves intentionally destroying tokens to reduce supply.

This helps reduce the supply of SHIB and ties the utility of NFTs to the token’s deflationary strategy.

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Article Details

Category: Crypto

Markets: India

Topics: SHIBA LEASH Shibarium Shib burn SHIB Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-01 @ 19:10:30 (2 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 609 words

Reading Time: 4 minutes read

Sentences: 55 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21447667

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

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Year Established: 2017

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News Last Updated: 9 hours ago

Coverage Areas: India

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