Starting at one quadrillion SHIB tokens, the supply gets cut by 41.07%.

Shibarium-native NFT project destroys 69M SHIB in a single transaction.

SHIB marketing lead maps out the pros and cons of a potential SHIB ETF. Shiba Inu (SHIB) is making waves in the crypto sphere again, as the community behind it has critically reduced the remaining supply. Seven transactions triggered a 3,988% rise in burns, which cumulatively sent 71,187,963 SHIB tokens to the incinerator.SHIB’s daily burn metric is massively important to the community, popularly known as the SHIB Army. The speed of eliminating SHIB coins from the circulating supply helps refine the canine coin’s dynamics and raises community optimism about SHIB’s long-term market value.Friday’s 3,988% SHIB burn upswing has cut Shiba Inu’s circulating supply to 589,272,433,641,092 SHIB tokens. Sponsored Upon further research by DailyCoin, it was found that the biggest contributor towards this milestone is the LumiBots non-fungible token (NFT) collection. The Shibarium-native digital collectible set’s executive team destroyed 69M SHIB tokens in a single transaction, which is now crowned as the week’s largest Shiba Inu burning contribution.SHIB ETF Buzz Sparks Community OptimismThe sudden spike in Shiba Inu’s burning records can be ascribed to the topic trending across SHIB’s social channels. A petition for a Shiba Inu exchange-traded fund (ETF) was initiated back in February, and it has already garnered 11,370 authentic signatures on Change.org.Shiba Inu’s marketing lead, Lucie, took the time to explain the pros and cons of a successful SHIB ETF launch. In a smooth launch scenario, Lucie outlined clear regulation and an additional layer of investor protection as the key points of a Shiba Inu ETF.With an expanding investor base and extra portfolio diversification opportunities, the SHIB ETF sounds attractive to most crypto investors. They hope the increased demand will drive up the price of the token. However, SHIB’s potential ETF also adds a couple of hurdles. Sponsored As explained by Lucie, an ETF product centralizes control, which conflicts with the philosophy of decentralized finance (DeFi). ETFs also impose management fees, while a SHIB ETF doesn’t guarantee direct ownership of the asset.Participation in a Shiba Inu ETF doesn’t include the ability to stake or participate in decision-making, which is a regular practice in decentralized finance communities.On the Flipside Despite the 3,988% Shiba Inu burn upswing fixed on Friday, the burning results this week are still 64% less than last week, according to Shibburn.

128,189,653 SHIB coins were set ablaze during the course of last week, raising the percentage of reduction of SHIB’s all-time max supply to 41.07%. Why This MattersAs the circulating supply is greatly reduced by burning procedures, the coin becomes scarcity-induced, possibly making SHIB a considerable long-term investment.Delve into DailyCoin’s hottest crypto news:Negligence! Tigran Gambaryan’s Health Is Being Endangered by OfficialsHow Solana’s ETF Fate Hinges on Trump and Biden