In the past 24 hours, the #SHIB burn rate has increased by 7,700%, according to Shibburn, with 266,727,310 $SHIB tokens burned in total Three unique addresses are used to calculate burns: tokens sent to the Genesis address (Black Hole), which lowers the supply, and two dead wallets with no accessible keys. In an effort to lower the amount of #crypto coins in circulation and possibly increase SHIB's scarcity and value over time, the Shiba Inu team has implemented a burning program. There has been a startling 500% daily increase in the Shiba Inu burn rate.Since it can affect their #trading strategies, traders and investors keep a close eye on the Shiba Inu burn rate. Strong community support and increased investor confidence could be indicated by a high burn rate, which would also increase interest in #cryptocurrency SHIB.SHIB burning is not a stand-alone solution, but it can be a factor that adds to its value. Burning a token can raise its value, but it should only be used as one component of a larger plan that also takes community support, adoption, and utility into account.$XRP $ETH