According to U.Today, the dog-themed cryptocurrency Shiba Inu (SHIB) has experienced a significant increase in its burn rate, soaring by 6,153% over the past week. Shibburn X's latest hourly update revealed that 5,761,510,009 SHIB tokens were burned in the last seven days, marking a 6,137.49% rise in the burn rate. This substantial burn was achieved through coordinated efforts within the Shiba Inu ecosystem, including contributions from the community and token burns from various projects within the ecosystem.
A major factor contributing to the surge in the weekly burn rate was a significant burn on November 1, where 5,612,878,479 SHIB tokens were burned in six transactions. In October alone, 6,133,934,758 SHIB tokens were burned across 105 transactions. The transfer of billions of SHIB to
