Shiba Inu Sees Massive Burn Spike as 16 Million Tokens Exit Circulation

Shiba Inu has experienced a dramatic increase in its burn rate, removing over 16 million tokens from circulation within just 24 hours. This move is attributed to strategic burning efforts aimed at reducing circulating supply and potentially boosting investor confidence. The sharp rise in burn activity coincides with market recovery, driving price gains for SHIB. However, reduced trading volume raises questions about the sustainability of this trend.