SHIB Burn Rate Experiences Significant Increase: Exploring Potential Market Repercussions

SHIB Burn Rate Jumps 515.33% – Will Price Follow Suit?

The SHIB burn rate has seen a significant surge of 515.33%, according to the latest data provided by Shibburn, a website that tracks the token’s burn transactions. This sudden increase in burns could have potential implications for the cryptocurrency’s price performance.

For those unfamiliar with Shibburn, it is an initiative from the Shiba Inu (SHIB) developer team itself claims that they also transfer roughly 400,000,000 Shiba Inu to unspendable blockchain addresses every month.

Source: u.today