CandleFocus Shiba Inu Burn Rate Skyrockets 4,100% as 21,709,094 SHIB Vanish
2025-01-08
Author: Content Editor
In the last 24 hours, the burn rate for Shiba Inu's token SHIB increased by 4,100%, with over 21 million tokens permanently removed from circulation. This reduction in supply is seen as a positive for the Shiba Inu community. However, despite the increased burn rate, the price of SHIB dropped by nearly 11% due to a broader market sell-off. Additionally, there has been a significant surge in large transaction volume for SHIB, indicating whale activity and potentially strategic moves by large holders. The countdown to Jan. 14, which is less than a week away, is also mentioned in the article.
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