Massive Shiba Inu Burn Rate Jumps 358%, Exceeding 300 Million SHIB in a Week

A remarkable surge has been observed in the Shiba Inu (SHIB) burn rate, as over 300 million SHIB coins were incinerated within just one week. The impressive jump, exceeding 300 million SHIB, is attributed to the community’s efforts to drive down supply and boost demand. According to data from Shibburn, the weekly burn rate increased by a staggering 358.82%, propelled primarily by several substantial burns in a single week. These events involved transferring millions of SHIB to unspendable wallets, effectively reducing circulating supply and fueling market volatility.