The Shiba Inu burn rate exploded again, an effort aimed to reduce the asset’s circulating supply and make SHIB more valuable in time. SHIB Burn Rate Takes OffThe team behind the popular meme coin – Shiba Inu – keeps removing a substantial amount of tokens from circulation. Data shows that the burn rate has skyrocketed by almost 500% in the past 24 hours and 193% on a weekly scale. Despite those efforts, the price of Shiba Inu is down 8% in the last 24 hours and 25% weekly (per CoinGecko’s data). For example, total blocks on the network exceeded the 4 million level, whereas total transactions crossed 400 million.

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