Shiba Inu’s Burn Rate Soars Amidst Market Uncertainty

Shiba Inu’s burn rate has experienced a significant surge, jumping by 396% in the past 24 hours. This increase suggests a renewed community effort to reduce SHIB’s circulating supply. Shibburn reports that over 7.5 million tokens were permanently removed from circulation, marking a substantial rise after a recent decline. While this boost coincides with an uptick in burn activity, Shiba Inu’s price saw a retracement following an earlier rally fueled by Bitcoin’s record high of $125,000.