In an interesting turn of events, the Shiba Inu burn rate has received a massive boost in the last day. This is a welcome change to the slow momentum which the burn initiative had recorded over the last week, proving that the SHIB community is coming back to the table to burn more tokens.
Shiba Inu Burn Rate Picks Up
The Shiba Inu burn was an initiative that begun over a year ago as community members worked to reduce the supply of the meme coin. With a large supply of over 500 trillion, it has posed an hindrance to the coin’s growth, making a rally to $1 an impossible feat at this point. So, in an effort to increase its value, SHIB community members began sending tokens to a burn address.
Since the burn began, there have been steady burns carried out almost daily. Sometimes the burns moved into the billions as the initiative surged. In recent times, participation has been less than encouraging as only small amounts of tokens made it to the burn address each day. However,
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