Shiba Inu Token Burn Rate Surges 439% Amid Broader Market Decline

Shiba Inu's token burn rate surged by a significant margin in recent days. According to Pluang, over 10.6 million SHIB tokens were burned within the last 24 hours alone, marking a 439.79% increase. This substantial rise has contributed to a total of 173.37 million tokens burned over the past week and more than 3.36 billion in the last 30 days.

The cumulative burned SHIB tokens now exceed 410 trillion, reflecting ongoing efforts to reduce supply and potentially support token value. However, despite this activity, SHIB's price fell by 1.26% in the last day and 7.38% over the week due to broader market conditions including regulatory uncertainty and macroeconomic factors.