The burn rate of Shiba Inu (SHIB) has seen a dramatic rise, climbing by an incredible 49,464% as per the Shibburn platform's data. This surge coincided with a significant 10% increase in SHIB's price, moving from $0.00002523 to $0.00002784 within a two-hour window.
Consequently, the Shiba Inu community successfully transferred 175,311,356 SHIB tokens to unspendable addresses, marking a considerable effort in reducing the token's supply. This activity is part of a broader strategy to impact SHIB’s value positively.
This burn rate escalation has attracted interest from analysts eyeing potential growth for Shiba Inu, with some predicting a substantial increase in its overall market performance.
