Shiba Inu (SHIB) Burn Rate Spikes 2800%

Krutika Adani

Burn Rate Skyrockets

Shiba Inu's burn rate has spiked by a huge margin yet again. In the last 24 hours, the burn rate increased by 2814%.

7.9 Million $SHIB Burnt

The last 24 hours saw the automated burning of 7.9 million tokens. Increased burn rates contribute positively to the price.

Investors Return to Memecoins

Whales have returned to Shiba Inu, purchasing 1.35 trillion tokens on June 5th, according to data from Lookonchain.

ETF on the Cards

There are many speculative rumors about the possibility of an ETF for Shiba Inu.

Incoming Rally Soon

Heavy whale buying, followed by an increased burn rate, indicates the potential for a rally.