Shiba Inu burn rate skyrockets to 3,894%
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The Shiba Inu community experienced a surge in burn rate, which soared to a staggering 3,894%, leading to millions of SHIB tokens being permanently removed from circulation. 4,829,147 SHIB tokens were burned in 7 transactions over the last 24 hours. This burn surge occurred with a sudden increase in whale interest, with the number of large transactions involving SHIB doubling this week compared to averages seen earlier in 2024. With $435.66 million transacted in large transactions totaling over $100,000, SHIB's large trading volume has increased. by 223%.