Shiba Inu Burn Rate Soars 1,726%, But Price Remains in Red Zone

A significant increase in Shiba Inu (SHIB) burn activity has been observed, driving a sharp rise in the cryptocurrency’s daily and weekly burn rates. According to Shibburn, over 35 million SHIB were burned within the last 24 hours alone, contributing to a dramatic surge in the burn rate. This surge comes alongside a mixed market trend for Shiba Inu during December, with the price seeing continued declines despite recent activity.