Krutika Adani
On 30 August 2024, Shiba Inu burned around 96 million tokens in a single transaction, exploding the burn rate to 140,000%.
At press time, Shiba Inu had recovered to $0.000014 after a brief dip to $0.000013. The spike in burn rate seems to have lifted sentiments and prices for Shiba Inu.
The low burn rates hardly produce any significant impact, their combined power drives higher community engagement and helps lift the token price.
Shiba Inu looks to cross $0.00002 before making a move to regain $0.000045, the highest level in 2024.
Shiba Inu has a high probability to reach $0.0001 by shedding another zero as the altcoin markets are expected to rally later this year.