The burn rate of Shiba Inu, a significant meme coin and the second largest in the cryptocurrency market, has experienced a dramatic increase of 5600%, attracting considerable attention.
The development team behind Shiba Inu has been actively focusing on initiatives like the Shiba Inu Burn, showcasing their commitment to the coin’s advancement.
The Shiba Inu burn rate has been variable, with some days demonstrating higher rates and others showing a decrease. Recently, the burn rate has shown relative stability, with a consistent daily burning of millions of SHIB tokens.
Based on the latest data from Shibburn, amidst favorable market conditions, the SHIB burn rate has surged phenomenally by 5600%. Shibburn data also reveals that a whopping 268.4 million SHIB tokens were sent to dead wallets in the last 24 hours, with a single large transaction 18 hours ago transferring 250 million SHIB to the dead wallet.
The significant rise in the burn rate has brought relief to the SHIB community, which had been experiencing a declining burn rate. This surge comes at a time when Shiba Inu has been outperforming over the past few weeks.
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