Shiba Inu Resumes its Soaring Burn Streak, Spikes by 120%
Shiba Inu burn initiatives have been some of the most important ones in the ecosystem. Initially, it all began with a vision to reduce the number of Shiba Inu in circulation. This was with the belief that it could induce scarcity and cause a spike in value over time. 2022 has been a mixed year for SHIB in terms of burns. There were days when the burn rate s soared over 4000%, and there were also days when they plummeted hard. However, at the beginning of 2023, the Shiba Inu burn rate was at a higher level for the first three days. The streak ended yesterday when the burn rate plummeted by 50%. Now, according to the details from Shibburn , the burn rate has spiked by 121% in the last 24 hours. Source: Shibburn Shiba Inu resumes its burn streak Details from Shibburn revealed that the burn rate has reversed direction and is up by 121% in the last 24 hours. During the last 24 hours, over 91 million SHIB have been sent to dead wallets. The major contributor to the s...