The Shiba Inu cryptocurrency, commonly known as SHIB, has recently experienced a significant boost in its token burn rate, increasing by an astonishing 6,223% within just 24 hours. This round of token burning resulted in 290,321 SHIB tokens being removed from circulation.
Such dramatic token burning activity has positively impacted the price of SHIB, which has climbed 3.41% over the same period, reaching a trading price of $0.00002535.
Additionally, SHIB has enjoyed a remarkable year-to-date growth rate of 144%, contributing significantly to the ongoing bullish momentum in the crypto ecosystem.
This activity in the Shiba Inu ecosystem is set against the larger backdrop of the cryptocurrency market, which now boasts a total market capitalization of $3.09 trillion.
