Shiba Inu Burn Rate Soars 487% In A Day: What Is Going On?
Posted On November 25, 2024
Shiba Inu (CRYPTO: SHIB) has gained traction amid rising burn rates, sparking optimism among technical analysts about bullish momentum for the token.
What Happened: According to Shibburn data, the burn rate for SHIB surged by 486.8% over the past day, with 5.9 million SHIB coins permanently removed from circulation.
A single transaction alone accounted for around 2 million burned tokens.
Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, recently noted that while burning 99% of SHIB’s supply seemed improbable in the past, it now appears …
About The Author
