The weekly burn rate of the meme cryptocurrency Shiba Inu (SHIB) has increased by over 2,000%, with a large portion of SHIB coins being burned in a single transfer by the SHIB team. The burn was aligned with the launch of ShibTorch V2, an improved burn system that aims to have greater efficiency and community participation. However, within the past 24 hours, SHIB has experienced a 4% loss in value following a previous surge. The plunge was likely influenced by the broader crypto market and Bitcoin's decline due to the implementation of higher trade tariffs by the US administration.



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