Shiba Inu (SHIB) is a cryptocurrency known for its deflationary burn rate feature. This feature encourages users to send the token to dead wallets, increasing its burn rate. Over the past 24 hours, the burn rate has increased by 12,840%, reaching 410,644,708,853,803 SHIB. There are two main contributing wallets to the current SHIB burnt, containing 100 million and 70 million SHIB each. The elevated burn rate metric has the potential to drive new capital inflows and increase trading volume which currently stands at $212,220,275. In order to increase SHIB burn rate, users are encouraged to send it to dead wallets, something that is aided by layer-2 scaling solutions and the launch of the SHIB burn portal. The rising burn rate is partly a result of community education.



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