The Shiba Inu burn rate has taken a major leap, with a whopping 1,166% increase in just one day!
Increased Activity and Token Burn
According to Shibburn, the official burn tracker, the burn rate has spiked significantly. This means more people are burning their Shiba Inu tokens, resulting in a total of 35.29 million tokens burned in the last 24 hours.
Notable Burn Transactions
Instead of a few large burns, the increase in activity is spread across multiple transactions. The largest burn sent over 10 million tokens, while seven others sent between 2 million and 5.5 million tokens.
Positive Trend
This spike continues a positive trend that started earlier this week, with a 5,569% increase in the burn rate on June 18.
Market Performance
Despite the impressive burn rate, Shiba Inu’s daily trading volume has decreased by 14.22% to $270 million. The price has also dropped by 0.71% daily and 15.17% weekly.
