The Shiba Inu development team has revealed that the long-awaited auto-burn feature will be deployed this month.
With SHIB burns set to increase in quantity and regularity, this could be a catalyst for a price rally.
The Shiba Inu development team has provided a key update on the auto-burn feature. Through Shiba Inu Magazine, the team revealed that the testnet will launch later this month. This feature has been hailed by the team and the community as a game-changer as it solidifies its economic model.
Ideally, token burning allows the network to reduce the number of tokens in supply, artificially creating demand for the remaining tokens and potentially catalyzing price rallies. Since commencing SHIB burns, data from Shibburn.com, which tracks SHIB token burns, shows that a total of 410,708,016,043,554 tokens have been burned at the time of press.
In the past, CNF has reported on some record-breaking burns. One of these occurred early this month when the network burnt 9.25 trillion SHIB

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