The Shiba Inu burn rate has seen an impressive surge of 436.15% in the past 24 hours, as reported by the platform Shibburn. This notable increase is attributed to six major transactions that significantly contributed to the burn rate spike.
Among these transactions, the largest involved the transfer of 38,126,361 and 12,248,273 SHIB coins to addresses from which they cannot be retrieved, thus reducing the supply of SHIB in circulation.
This activity follows a recent statement from Shytoshi Kusama, a key influencer in the Shiba Inu community and ecosystem, adding further attention to these actions.
The increased burn rate has captured the attention of investors and traders within the crypto space, as it could potentially influence SHIB’s market dynamics and value.
