Shiba Inu Burns Skyrocket 5,223%, Marking Major Token Reduction

A massive increase in Shiba Inu’s daily burn rate has seen millions of SHIB tokens permanently removed from circulation. This surge in burn activity aligns with a strategic effort to reduce the overall supply of the cryptocurrency, as indicated by data on Shibburn. Over 21 million SHIB tokens were burned within the last 24 hours alone, marking a significant jump in burn rate and totaling over 148 million SHIB tokens burned over the past seven days, representing a substantial increase in weekly burn activity.