SHIB Burn Rate Soars 580% Amid Crypto Market Rebound
SHIB burn rate and price note a resurgence, but volume remains in the red. What does this mean for the SHIB ecosystem?
After several days of declining burn activity, it appears that Shiba Inu has resumed its regular large-scale token burns. Data from blockchain tracking firm Shibburn shows a massive 580.28% increase in SHIB’s burn rate over the last day.
This comes amid a broader crypto market rebound, with overall crypto market capitalization surging by 4.27% as of press time. SHIB has also mirrored the uptrend in its burn metric, climbing 5.89% in price over the same period.
