The Shiba Inu burn rate experienced a dramatic increase today, soaring by 6,200%. This substantial rise has generated positive sentiment among investors globally.
According to the latest data from Shibburn, a total of 290,321 Shiba Inu tokens were burnt within a 24-hour period. This impressive burn rate has contributed to renewed optimism regarding the potential price movements of SHIB.
Such an increase in the burn rate often fuels anticipation of price growth, as reducing circulating supply can occasionally result in increased demand and, subsequently, higher prices.
