Burn Rate Surges
Shiba Inu’s burn rate has seen an incredible increase of over 2,300% in just one day. This means that 195 million SHIB tokens were burned during that period.
Price Rebounds
The surge in burn rate has had a positive impact on SHIB’s price, which has rebounded after a recent correction. The price has risen by 14% in the last 24 hours.
Shibarium’s Meme Season
Shiba Inu’s Marketing Lead has hinted at a potential meme coin season on the Shibarium layer-2 network. This could lead to increased network activity and more SHIB burns.
Caution for Meme Investors
While the meme coin season could be beneficial for SHIB’s price, traders are advised to exercise caution when investing in meme coins. They should only invest with money they can afford to lose.
