Shiba Inu Burn Rate Soars 6,018%: Price Rebound on Horizon?

Shiba Inu Coin Burn Rate Skyrockets by 6,018%, Potential Price Rebound Expected

What Happened

Shiba Inu’s burn rate has surged dramatically, showing a 6,018.2% increase in the last 24 hours, according to Shibburn data. A total of 10.2 million coins have been burned during this period. On early Tuesday morning, both the SHIB/USD burn rate and whale transactions saw a significant rise, making traders predict a bullish price action ahead. Specific transactions on Monday included the burning of 5.6 million and 3 million coins respectively, with an additional 1.18 million coins burned in the afternoon.