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Shiba Inu Burn Rate Skyrockets, SHIB Price Breakout Ahead?
Shiba Inu’s burn rate jumped over 106,000% in 24 hours, yet its price declined by 5.87%, raising questions over the token’s price swing.
Key Notes
The Shiba Inu burn rate soared 106,040% in a day, burning 15.3 million SHIB.
SHIB price dipped 5.87%, despite higher burn and active community efforts.
One wallet alone destroyed over 15 million SHIB in a single move. .
The latest data from the Shiba Inu ecosystem indicates that the SHIB burn rate has shot up by over 106,000% in the last 24 hours. Notably, the jump suggests the community is getting more active and engaged. Oddly enough, this spike came while the native digital asset SHIB’s price and market capitalization took a hit over the same period.
Over 15 Million SHIB Burnt in 24 Hours
After days of negligible burns, Shiba Inu’s token burn rate has jumped significantly in the past 24 hours. According to an update from the ecosystem, the burn rate shot up by 106,040.49%.
Data from Shibburn shows that over 15.3 million SHIB tokens were burned within that time. This beats the burn rate from earlier with a recorded 6,519% surge in one day. However, despite the latest spike, there has not been a noticeable change in the token’s price.