According to CryptoPotato, Shiba Inu's token burn rate has jumped 250%, resulting in the removal of 53 million SHIB tokens and reducing its total supply. The goal of this action is to increase the scarcity and value of SHIB, similar to Binance's recent burning of $450 million worth of BNB tokens.

Over the past 24 hours, the burn rate for Shiba Inu has soared to approximately 250%. The project sent over 53 million SHIB tokens to an inaccessible address, with the maximum total supply of Shiba Inu being 999,982,697,981,254. Over 41% of these tokens have already been destroyed.

Despite the token burn, SHIB's price has only shown minor gains. However, the further development of Shiba Inu's layer-2 blockchain solution, Shibarium, might boost its value further. Shibarium was launched at the end of August and has achieved several milestones in the following months.