.NOWPayments_io has announced the launch of its token burn mechanism for SHIB and LEASH
Burning refers to the process of permanently removing a certain amount of tokens from circulation. Similar to how companies buy back their stocks, some cryptocurrency projects destroy tokens in order to make the remaining ones more valuable. By making the token more scarce, Shiba Inu proponents want to make the token more scarce.
According to data provided by CoinMarketCap, the circulating supply of Shiba Inu currently stands at 549 trillion tokens.has repeatedly denied that the project had a token burn mechanism, lashing out at critics. In its blog post, NowPaymemts claims that its recent move is supposed to bring “more visibility” to SHIB merchants.
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