The Shiba Inu (SHIB) cryptocurrency, known for its dog-themed branding and low transaction fees, has experienced a significant increase in its burn rate over the past 24 hours, rising by 26462%. This burn trend has been consistent since the start of the year, with over 1.9 billion SHIB tokens burned in the last 24 hours alone. This may be attributed to the upcoming launch of Shibarium, a Layer-2 blockchain by Shiba Inu's lead developer, Shytoshi Kusama. The launch is highly anticipated by the SHIB community, but developers and social media admins have warned about increasing scams related to Shibarium. As a result of the high burn rate, the SHIB price has increased by over 2%, with each token currently trading at 0.00001096 USD, though the market cap has come down to 6.01 billion USD.
The burn rate of Shiba Inu has skyrocketed prior to the launch of Shibarium this week.
The Shiba Inu (SHIB) cryptocurrency, known for its dog-themed branding and low transaction fees, has experienced a significant increase in its burn rate over th
