Krutika Adani
Shiba Inu's burn rate has spiked by a huge margin yet again. In the last 24 hours, the burn rate increased by 2814%.
The last 24 hours saw the automated burning of 7.9 million tokens. Increased burn rates contribute positively to the price.
Whales have returned to Shiba Inu, purchasing 1.35 trillion tokens on June 5th, according to data from Lookonchain.
There are many speculative rumors about the possibility of an ETF for Shiba Inu.
Heavy whale buying, followed by an increased burn rate, indicates the potential for a rally.