Shiba Inu Burn Rate Skyrockets 200,000% in 24 Hours – Is a Price Surge Next?

TL;DR SHIB’s burn rate explosion in a single day has sparked renewed hopes that the meme coin could post substantial gains in the short term. However, the decreased activity on Shibarium and the recent asset flow toward exchanges suggest the bears are not done ￰0￱ of SHIB Tokens in Flames The second-largest meme coin in terms of market capitalization has retraced by 3% in the past week and currently trades at around $0.00001223 (per CoinGecko’s data). However, data shows that the burn rate has skyrocketed by over 200,000% in the last 24 hours, resulting in roughly 4.5 million SHIB tokens sent to a null ￰1￱ the USD equivalent of the destroyed stash is negligible, continuous burning efforts will make the asset scarcer and could positively impact its valuation (should demand not diminish).

Since introducing the program, the team and the community have burned approximately 410.75 trillion tokens, leaving 584.68 trillion in ￰2￱ Supply,