The Shiba Inu burn rate is up almost 4000% today, fueling optimism amid the $SHIB ETF buzz dominating the market. However, the price is currently struggling with volatility.
Today, with a nearly 4000% increase in the burn rate of #SHIB🔥🔥 on July 12, the meme coin continued to improve its market dynamics. Interestingly, the increase in burn rate comes amid news of a potential SHIB #ETF , triggering further debate in the global crypto community.
According to data shared by the Shibburn tracker, a staggering burn rate increase of 3988.31% was recorded today. This increase primarily corresponds to the destruction of 71.18 million coins in the last 24 hours.
The burn mechanism of #ShibaInu is killing the total market supply, which currently stands at 589.27 trillion coins. Specifically, 410.72 trillion tokens have been burned since the initial offering.
