Shiba Inu (SHIB) Skyrockets by 12% Following Massive 4-Digit SHIB Burn: Comprehensive Analysis

• The Shiba Inu community has successfully burned a large amount of SHIB meme coins, leading to a spike in the coin’s price.
• The overall increase in the SHIB burn rate has reached a staggering 1,009%, with a total of 29,199,627 SHIB meme coins removed from circulation.
• Simultaneously, the price of SHIB has soared by more than 12%, reaching the $0.00002550 price level.

Shiba Inu’s community burns a significant amount of SHIB coins, leading to a surge in price and a 1,009% increase in the burn rate. The coin’s price has also seen a 12% increase.

SHIB burns spike over 1,000%

The Shibburn data platform has reported a 1,009% increase in the SHIB burn rate since yesterday morning. A total of 29,199,627 SHIB meme coins have been removed from circulation. The two largest burn transfers contained 14,943,135 and 10,006,280 Shiba Inu coins respectively. The SHIB team has been testing a new automated mechanism for burning SHIB tokens on the Shibarium testnet, leading to the burning of several tens of billions of SHIB coins.

SHIB community demands more coin burns

With no recent news on the automated burn mechanism, members of the SHIB community have been asking when the developers will start burning coins again. The official marketing lead of the team, Lucie, responded to th... Read the full article for FREE at COINOTAG!