As per Shiba Inu's weekly charts, SHIB has been gradually recovering inside a triangle pattern in recent weeks, but it was unable to close above the $0.0000255 level. While the price is looking set for an incoming price movement within the triangle formation, the momentum indicators, especially the RSI, lies near the neutral mark of 50.
According to Shiba Inu Lead Developer Shytoshi Kusama, ''This is a huge advancement for all of the merchants that currently (and in the future will) accept SHIB for payment,'' which also implies a significant advancement in a bid to burn more SHIB.
Burning refers to the process of permanently removing a certain amount of tokens from circulation. This is believed to make the token scarce, thus driving up value in the long run.
Merchants simply have to choose the percentage markup for burning tokens. NOWPayments automatically calculates the specific amount of SHIB or LEASH that has to be sent to a dead wallet.