The Shiba Inu cryptocurrency continues to make waves, with its burn rate spiking by 400% amid a positive price trajectory.
The Shiba Inu burn rate has seen an impressive surge. The development team behind Shiba Inu, the second-largest meme coin in the crypto market, has been actively pushing initiatives such as the burn rate program, demonstrating their commitment to the coin’s progress.
Shibburn’s latest data reveals that the SHIB burn rate has spiked by a whopping 407%, fuelled by favourable market conditions. In the last 24 hours, 142.8 million SHIB coins were sent to dead wallets, with multiple small and large transactions contributing to this significant increase in the burn rate.
The burn rate’s upturn has brought relief to the SHIB community, following a period of a declining burn rate. This surge coincides with Shiba Inu’s improved performance over the past few weeks.
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