‘Dogecoin Killer’ Shiba Inu Burn Rate Surges 876%: Is SHIB Price Really ‘Insanely Strong’?

Shiba Inu (CRYPTO: SHIB) is seeing increasing burn rates even though prices remain stagnant.

What Happened: Shibburn data revealed that 40.46 million SHIB coins were burned in a single transaction, pushing the burn rate higher by 876.05%.

This followed another 250 million SHIB burned just three days earlier.

The event highlights the ongoing effort to reduce supply and drive long-term value for holders.

Crypto trader Bluntz Capital shared his long position on SHIB, calling it “insanely strong.”

Despite its solid uptrend, Bluntz emphasized that the meme coin has yet to experience a parabolic breakout.

On the SHIB/BTC pair, Bluntz noted accumulation at …

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