Shiba Inu Burn Rate Skyrockets, Surges 36210%

Shiba Inu, a notable and second-largest meme coin in the cryptocurrency market, has garnered significant attention. The development team has been actively engaged in initiatives like the Shiba Inu Burn, reflecting their dedication to the coin’s progress.

The Shiba Inu burn rate has been subject to fluctuations, with some days witnessing higher numbers while others show a decline. However, in recent times, the burn rate has displayed relative stability, with a consistent daily burning of millions of SHIB.

Also read: Ripple (XRP) Spikes Over 11% to Become Top-Performing Major Crypto

According to the latest details from Shibburn, the SHIB burn rate has skyrocketed by 36210% amidst positive market conditions.

SHIB Burn rate soars by 36210%

Shibburn data shows that 173.2 million SHIB have been sent to dead wallets in the last 24 hours. One large transaction that occurred 19 hours ago sent 100 million SHIB to the dead wallet.

The spike in the burn rate has provided the SHIB community with relief from the slumping burn rate. The surge in burn rate comes at a time when Shiba Inu is performing better in comparison to the past few weeks.

Also read: VeChain: VET Secures Key US Patent For Blockchain Transactions

CoinMarketCap data shows that SHIB is trading at $0.000008169, with a 1.2% drop in value over the last 24 hours.

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