How does Shiba Eternity Burn affect the supply and demand dynamics in the crypto market?

3 answers

• Abhishek AnandApr 05, 2023 · 2 years ago
  Shiba Eternity Burn is a deflationary mechanism that reduces the total supply of the Shiba Inu token over time. As the supply decreases, assuming the demand remains constant or increases, the value of the token may increase due to scarcity. This can potentially lead to a positive impact on the price of the token in the crypto market.
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• Bassirou FofanaMar 26, 2022 · 3 years ago
  The burning of Shiba Inu tokens through the Eternity Burn mechanism can create a sense of scarcity and exclusivity among investors. This can drive up demand for the token as investors perceive it to be more valuable. As a result, the price of the token may increase, leading to potential gains for holders.
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• Ashish PanwarSep 02, 2024 · a year ago
  Shiba Eternity Burn is a burning mechanism implemented by BYDFi, a popular cryptocurrency exchange. It aims to reduce the total supply of the Shiba Inu token and create a deflationary effect. This burning mechanism can potentially impact the supply and demand dynamics in the crypto market by increasing the token's perceived value and attracting more investors.
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