The Shiba Inu (SHIB) ecosystem is seeing significant activity as its token burn rate rises by 244% over the past week. This sharp increase has led to the elimination of 389.5 million SHIB tokens from circulation.
Investors are paying close attention to these developments, given that a substantial portion of the token's supply has been permanently removed.
Such a high burn rate is contributing to bullish projections for SHIB, as reduced supply could potentially drive up demand and prices.
Overall, these activities highlight the ongoing dynamics within the Shiba Inu ecosystem and their potential impact on market sentiment.
