The Shiba Inu ecosystem has started out the new week on a particularly positive note. The burn rate, which is a community initiative to reduce the massive supply of the token, has seen a significant jump as the price of the meme coin has recovered. SHIB Burn Rises 233% A Monday report by Shiba Inu burn tracking website Shibburn showed that the SHIB burn rate has seen an impressive 233% climb. This puts a turn on the particularly slow weekend which saw burn rates decline rapidly. Related Reading: By The Numbers: Bitcoin Hashrate Poised To Complete 100% Growth In 2023 As the new trading week opens up, the total SHIB tokens burned during this time has crossed 56.98 million. This was the result of tokens being sent to the burn address across 29 addresses, with more than 3.7 million tokens sent to the burn address in the last hour as of the time of this writing. Burn rate spikes 233% | Source: Shibburn The token burn also led to an increase in the burn rate for the last week as well. Monday’s burn fi ..
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