Shiba Inu’s 2,133% Burn Rate Surge Followed by 10% Price Rise: What’s Happening?

Dog-themed meme coin Shiba Inu (CRYPTO: SHIB) has seen a massive 2,133% surge in its burn rate, followed by a 10% price rise.

What Happened: According to Shibburn, a platform that collects burn transaction data from Etherscan and presents it to the SHIB community, reported six burn transactions in the last 24 hours.

These transactions resulted in the removal of a total of 34,312,733 SHIB from circulation. This large burn rate led to a 2,133% increase in the Shiba Inu burn rate metric.

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