The Shiba Inu burn rate has dramatically increased by over 24,271% in a single day, causing significant excitement within the community. This increase coincides with a surge in transactions on the Shibarium Layer-2 network, prompting speculation about a potential price rally for Shiba Inu to $0.00008.
The burn rate refers to the number of SHIB tokens that have been permanently removed from circulation, with approximately 5.6 billion tokens destroyed recently. The aim is to enhance scarcity, which could potentially boost demand and increase the coin's value.
Lucie, the SHIB marketing lead, highlighted the growth of Shibarium network transactions reaching over 3.89 million daily. The community's efforts, such as those by WoofSwap, have significantly contributed to SHIB's supply reduction efforts.
The price of Shiba Inu is currently trading at $0.000017, with a recent 2.3% increase. For Shiba Inu to reach the $0.00008 target, it would need to jump by approximately 370.59% from its current price.
