Krutika Adani
In the last 24 hours, the Shiba Inu burn rate had spiked by 250% due to an increased number of transactions.
The spike in the burn rate came as Shiba’s automated burn mechanism burnt 8.2 million $SHIB.
Whales have shown renewed interest in Shiba INu due to the second leg of the memecoin rally.
Unless more burns take place in the order of billions per day, it is nearly impossible to reach the 0.1 cent target with just burning.
Despite all metrics and measurements, burning has a qualitative effect that it encourages higher adoption which is the real force behind growth.