Despite market turbulence, the Shiba Inu crypto continues to capture attention, fueled by an unprecedented burning frenzy within its community. In the face of price dips and a broader crypto market crash, the SHIB community is intensifying its efforts to burn SHIB tokens, driving a surge in burn rates.
Notably, this remarkable trend has implications not only for SHIB’s value but also for the broader landscape of meme coins.
Shiba Inu’s Burn Rate Soars
The Shiba Inu crypto has witnessed a remarkable surge in burn rates, with over 774 million SHIB tokens burnt in the past seven days, marking a staggering increase of almost 200%. According to data from Shibburn, a platform tracking SHIB burn rates, the total burn value surged by 193.39% to $774.13 million over the last week.
In addition, the burn rate for Shiba Inu tokens skyrocketed by 489.87% in the last 24 hours alone, reaching $19.34 million. This move has sparked discussions in the cryptocurrency community, over its potential imp
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