Shiba Inu coin saw a significant increase in investor interest as its burn rate skyrocketed by 2000% on Saturday. According to Shibburn, over 200 million SHIB were eliminated from the meme coin's supply within the last 24 hours.
However, despite this massive reduction in circulating supply, the price of SHIB continued to decline, trading in the red zone.
This development raises questions about the future price movement of SHIB and whether the burn rate can sustain enough momentum to push the value higher.
