The Shiba Inu community has successfully burned a large amount of SHIB meme coins, causing the burn rate to increase by over 105%. They removed 1,877,749 SHIB from circulation, with 1,000,707 SHIB being removed in a single transfer. However, skeptics believe that these burns are still too small to significantly reduce the circulating supply in the next year or two. Only half of the initial quadrillion SHIB supply has been burned so far. The price of SHIB has spiked by almost 8% over the last 24 hours, following the price movement of Bitcoin.



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