Shiba Inu's burn rate has experienced a dramatic rise, with a 340% increase in the last 24 hours according to data from the Shibburn wallet tracking service. This surge results from millions of Shiba Inu coins being transferred to burn wallets.
Interestingly, despite the substantial burn rate, the price of SHIB has shown only a modest increase, which was unexpected for many in the crypto community.
The recent update highlights the dynamic nature of the cryptocurrency market and the ongoing interest in Shiba Inu as an investment asset.
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