Shiba Inu Burn Rate Skyrockets by Over 8,000% in 24 Hours

The Shiba Inu (SHIB) burn rate has surged dramatically, skyrocketing over 8,000% within a single day. This dramatic increase, as per data from the SHIBBURN tracker, resulted in the destruction of nearly 9.7 million SHIB tokens. The activity comes amid rising investor interest, fuelled by the recent cryptocurrency market crash and heightened exchange outflows. While this surge has sparked discussions about potential price recovery, official project leadership suggests a more nuanced outlook.