The Shiba Inu (SHIB) cryptocurrency has experienced a significant surge in its token burning mechanism. Recently, the SHIB burn rate saw an unprecedented increase of 4,411.52% within a 24-hour timeframe.
This massive increase in the burn rate has drawn considerable attention within the crypto community, leading to a noticeable impact on the SHIB price.
Token burning is a process that removes tokens from circulation, potentially increasing the value of remaining tokens due to decreased supply. SHIB’s remarkable burn rate uptick has ignited discussions concerning its future market performance.
