Shiba Inu Burn Rate Explodes by 88,000%: SHIB Price Surge to Follow?

The second-largest meme coin has performed quite poorly over the past several months, but the resurgence of its burning mechanism may signal that better days are ￰0￱ factors that suggest a price pump could be incoming include the revival of Shibarium’s activity and a reduction in the number of SHIB tokens stored on crypto ￰1￱ Burning Goes Through the Roof The X account Shibburn revealed that the Shiba Inu team and community have destroyed almost 30 million coins over the past 24 hours, representing a whopping 88,250% increase compared to yesterday’s ￰2￱ program’s ultimate goal is to decrease the overall supply of SHIB, thus making the token scarcer and potentially more valuable (should demand remain stable or head north).

The team behind the meme coin introduced the mechanism in 2022, and since then, a total of 410.75 trillion tokens have been scortched, leaving approximately 585.22 trillion in ￰3￱ Supply,