Shiba Inu’s Burn Rate Soars 3750%

Krutika Adani

Burn Rate Spikes Again

Shiba Inu's burn rate has spiked again, with a 300 million token burn. The burn rate had increased by 3750% compared to the last day.

After Sinking to 1 Million per Day

Before that, Shiba Inu’s burn rate dropped to 1 million token burns per day.

Factors Keeping Burn Rate High

High transaction levels and a bullish memecoin market have contributed to Shiba Inu’s high burn rate.

Benefits of Burning SHIB Tokens

The Shiba Inu community cheers at high burn rates, as more token burns help appreciate the token value. A high burn rate also lifts user sentiments.

Future Outlook

Shiba Inu’s lead developer, Shytoshi Kusama, said that a 99% burn rate was not impossible.