Shiba Inu Burn Rate Surges 405% Amid Golden Cross Signal

The Shiba Inu burn rate has seen a significant surge of 405.21% over the last 24 hours, according to Shibburn's hourly update. A total of 124,023,282 SHIB were burned in this period. This acceleration was observed early on Saturday.

Looking at the past seven days, a cumulative total of 2,901,334,219 SHIB were burned, representing a 92.26% drop from the previous week. In the last 30 days, a total of 3.9 billion SHIB have been burned, with WoofSwap V3 being the top burner, sending 3,023,711,746 SHIB to dead wallets.

The Shiba Inu price action has also seen some movement, up 2.71% in the last 24 hours to $0.000004958. This marks a short-term golden cross on the hourly chart, with the MA 50 rising above the MA 200. The token's price had been on an upward trajectory after a 40% rally in late July.