The Shiba Inu (SHIB) token is one of the prominent meme tokens in the crypto market today, having a community of over 3.6 million followers. Liked by many and aiming to be more than just a meme token, the SHIB army committed to a burn mechanism in which they’d have to burn some SHIB tokens to reduce its massive supply. The latest burn, which happened earlier today, is massive compared to the recent SHIB burns. According to data from the SHIB burn tracking site, Shibburn.com, a total of 37,400,646 SHIB have been burned in the last 24 hours, accounting for a surge in burn rate of 1,395.89%. The More SHIB Burned, The Higher The Token’s Value? The SHIB token burn has been a thing that has been going on for a while now, and though every burn doesn’t result in a spike in SHIB’s price, with some burns comes a price movement. Related Reading: Shiba Inu Formed This Pattern, Breakout Incoming? This latest burn resulted in an upside in SHIB of nearly 5%. The price of SHIB be ..
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