Shiba Inu Burn Rate Skyrockets 657% as 15 Million Tokens Sent to Dead Wallets

Shiba Inu's token-burning operations experienced a significant surge in activity, as 15.16 million SHIB tokens were sent to dead wallets in the past 24 hours.

This represents a 657% jump in the daily burn rate, marking a reversal of the sluggish pace seen at the start of the week.

The total supply and price momentum of Shiba Inu also saw an increase, with over 410 trillion tokens permanently removed from circulation, accounting for 41.08% of the coin's original one quadrillion supply.

At press time, SHIB had risen 1.81% in the previous 24 hours, trading at $0.000005945, amid a rebound in the wider crypto market following statements from the Federal Reserve.