Shiba Inu Burn Rate Jumps 500% After Buy Orders Reach 91

Shiba Inu has seen its burn rate skyrocket by 500% in the past 24 hours, permanently removing over 15 million SHIB from circulation. This surge comes after a significant increase in buy orders, reaching 91, signaling renewed interest in the meme coin.

The Shiba Inu burn rate witnessed a remarkable uptick of nearly 500% on Tuesday, fueling investor optimism amid a broader crypto market recovery. Notably, over 15 million SHIB tokens were burned, contributing to a reduction in the overall supply and potentially increasing the value of remaining tokens.

According to data published on the Shibburn website, during the period of the past 24 hours, the SHIB community pushed the burn rate of the canine token up by nearly 500%. Blockchain data revealed that a substantial amount of SHIB tokens were sent to dead wallets, effectively taking them out of circulation.

This significant burn rate increase follows a period of consolidation for Shiba Inu, and the 91 buy orders suggest that investors are anticipating further gains. Stay tuned for more updates on the Shiba Inu burn rate and its impact on the price of SHIB.