The Shiba Inu team announced via Twitter on Sunday that it has launched its SHIB burn portal. The team said its burn portal is set to make it rewarding for users to regularly burn SHIB while effectively reducing its circulating supply. In a separate tweet, Shiba Inu said over eight billion SHIB tokens had been burned since the burn portal was opened.
SHIBA INU (SHIB) is an experiment in decentralized community building and another meme coin similar to Dogecoin (DOGE). SHIB is down by 5% in the last 24 hours and now trades at $0.00002271 per token.