The Shiba Inu kill rate has increased by 4,000% and more than 81 million SHIBs have been destroyed. What is the next step ?
The burn rate of Shiba Inu meme coins reached 4,000% today. SHIB is trading significantly higher, with market statistics further painting a positive outlook for the coin.
Shiba Inu, a well-known dog-themed coin in the cryptocurrency space, is generating a lot of interest again. The cryptocurrency's depletion rate increased significantly by 4,000% today, May 6, a development that has fueled optimism about the token's future price action.
Although SHIB has seen monthly price corrections, the coin appears to have overcome the usual bearish market sentiment with a number of upgrades to strengthen its crypto presence. Now, with further fallout from the above developments, Shiba Inu Coin is trading mostly in the green today, reflecting rising consumption rates and recent bullish market statistics.
Shiba Inu Burning Rocket 4000%: thatâs it
According to information from the Shibburn tracker, 81.64 million SHIBs were destroyed in the last 24 hours, leading to a 4,085.94% increase in the destruction rate. This move eliminates Shiba Inu supply from the market and aims to improve the future viability of the token market.
It should be noted that the poor performance of the dog-themed coin market is mainly attributed to oversupply in the market. In response, the Shiba crypto community's token burning mechanism will destroy SHIB tokens to eliminate supply, as seen in the development above.
This injects a dose of optimism into the future Shiba Inu price trend. ,
