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Shiba Inu Token Burn Rate Soars Amid Price Rally

Guavy AI Editorial Team
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SHIB
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Shiba Inu's (SHIB) token burn rate has surged over 88% after 39.23 million tokens were sent to dead wallets within the last 24 hours, reducing the circulating supply and potentially supporting the coin's price.

This brings the total amount of SHIB burned in the past week to 192.84 million, a decline of nearly 39% from the previous week.

Despite the decrease in weekly burn rate, the ongoing token burn continues to help reduce the circulating supply of SHIB, which may have contributed to its recent price rally of over 26% amidst broader crypto market gains and new exchange listings.

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