The post Shiba Inu Burn Rate Skyrockets To 3,894% appeared first on Coinpedia Fintech News
The Shiba Inu community witnessed a sharp increase in burn rate as the burn rate soared to a staggering 3,894%, which led to the permanent removal of millions of SHIB tokens from circulation. 4,829,147 SHIB tokens were burned in 7 transactions in the last 24 hours. This surge in burn came at a sudden rise in whale interest, as the number of large transactions involving SHIB doubled this week compared to the averages seen earlier in 2024. With $435.66 million transacted in large transactions totaling more than $100,000, SHIB’s large transaction volume increased by 223%.