Millions of SHIB Coins Disappear: 338% Increase in Shiba Inu Coin Burn Rate
Over the past week, SHIB Coin saw a staggering 338% increase in its burn rate, resulting in the permanent removal of 200,591,910 coins from its circulating supply.
This noticeable increase in SHIB coin burning activity indicates its strategy to reduce its supply and increase its value. This increase in the rate of currency burning - details of which were mentioned in the latest update to the Shibburn burn tracker - is part of its ongoing efforts to enhance its market movements.
Increasing burn rate: 77% over the past week.
Number of SHIB coins burned: 200,591,910 coins permanently removed.
Objective: Reduce the supply and increase the value of the currency.
