The sudden increase in the token burn rate has brought SHIB a great deal of attention

The shocking 3,900% increase in the token burn rate has garnered a lot of attention for the Shiba Inu (SHIB) meme currency. This is in accordance with the data provided by Shibburn, an app that tracks the destruction of SHIB tokens. A similar increase has occurred in the price of SHIB.

Massive purchases are to blame for the spike in the burn rate of Shiba Inu. Two major purchasers lifted almost $35 million worth of SHIB in a single day.

Investors and traders now anticipate SHIB will be in a better position as a result of all these noteworthy events. Given the present situation, the crypto community is having a great time. Also, others think that if we reduce the amount of SHIB floating about, its value would go up.

The burn rate of SHIB increased dramatically to an incredible 3894.73% in the last 24 hours, according to Shibburn. Currently, the Shiba Inu community has burned up 4.89 million SHIB tokens in different transactions. By the way, the most significant factor contributing to the increase was identified as a single wallet address.

In a single transaction, the wallet in issue transferred an incredible 4.03 billion SHIB tokens to a wallet that is no longer functioning. Along with the wallet, the address 0xc55... spoke eloquently about the community's tireless efforts to reduce the amount in circulation.


An gain of 0.53% was shown by the most recent statistic for Shiba Inu prices, which stood at $0.00002569. A market valuation of $15.12 billion was recorded for the meme currency. At $787.92 million, the total volume of trades involving Shiba Inus amounted to 14,57%.

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