$SHIB The burning rate of this digital currency rises 18,000%
The Shiba Inu has seen a huge rise in burn rate metrics, further strengthening its deflationary status. According to Shipburn data. The Shiba Inu's burn rate has increased by 25,035.22% in the past 24 hours.
SHIB tokens are being burned amid the recent cryptocurrency bloodbath and the price correction the broader industry is facing. The Shiba Inu seems to be defying the odds on this key deflationary metric.
Memes, built on the Ethereum blockchain, have captured the attention of investors. It is an optimistic step that is reflected in its burning rate. The meteoric rise of over 25,000% suggests that investors may find a major catalyst to hang on to.
It is worth noting that a total of 658,082,956 SHIB were burned during the past 24 hours in eleven operations. In terms of monetary value, the value of the SHIB tokens burned was $14,385. According to the current market value of the token. This brings the total number of SHIB burned from the initial offering to 410,725,555,674,170.
