Shiba Inu and Terra Classic Burn Millions of Tokens, Prices Surge

full version at coinedition

Regular token burning is an attribute of the SHIB and LUNC communities.
The SHIB community burned over 918 million tokens in June.
LUNC surged 4% in anticipation of an upcoming token burn.

Shiba Inu (SHIB) and Terra Classic (LUNC) communities are actively burning tokens to reduce supply and boost prices, with notable success in June. This strategy, a recognized method for controlling inflation and increasing token value, has ignited price rallies for both meme coins.

According to reports, the Shiba Inu community permanently removed over 918 million SHIB tokens from circulation in June. Data shared by Shibburn showed that nearly one-third of the total SHIB burned in June occurred on the last day of the month, boosting the monthly burn rate by 148.69%.

Shibburn’s shared data shows that the Shiba Inu community burned SHIB tokens in varying proportions over 25 of the 30 days in June. Cumulatively, the community burned more SHIB in the first half of the month, specifically between June 11 and June 14. Ho…

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