On June 6, the SHIB token burn rate surged by nearly 3,900%. This surge coincided with SHIB's sideways price, and coupled with whales snapping up more than $35 million of SHIB in the past 24 hours, the skyrocketing burn rate and whale purchases sparked market enthusiasm. Burning tokens reduces the circulating supply and may increase the value of SHIB. Data shows that the SHIB token burn rate surged by 3,894.73%, with a total of 4.89 million SHIBs destroyed. One wallet address contributed the most, destroying 4.03 million SHIBs at one time.

In addition, other community members also carried out several small-scale token burns, which drove the burn rate up. The cumulative burn of SHIB tokens reached a staggering 410.72 trillion. This reduction in supply was a key factor in pushing up prices.

Meanwhile, 9 whale wallets spent a total of $35.2 million to purchase 1.356 trillion SHIB, and these large holders are confident in SHIB's future earnings potential.

In the next three months, let's look forward to $SHIB challenging $0.5

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