Shiba Inu, one of the most prominent meme coins functioning atop the Ethereum blockchain, echoed a sense of frenzy across the broader crypto market on Tuesday, following a significant surge in burn activity recorded. On-chain data spotlighted by Shibburn showcased a whopping 459% surge in the SHIB burn rate, nabbing substantial attention globally.
Moreover, this upswing appears to be shadowing an enormous SHIB transfer to a dead wallet, as per data by Etherscan. This transfer seems to be an effort by the Shiba community to offer aid to the SHIB tokenomics.
