Shiba Inu Burn Rate Surge Sparks Price Speculation

Shiba Inu's burn rate has seen a significant spike in recent days, with millions of tokens removed from circulation. This sudden jump in token destruction has reignited discussions about the potential impact on the cryptocurrency's price.

The Shiba Inu community has been actively engaging in token burns, which are deflationary tools intended to reduce supply and potentially support price. With its enormous circulating supply of nearly 589 trillion tokens, substantial burns are necessary to make a dent.

Despite the dramatic burn activity, SHIB's price saw only a modest uptick, trading at around $0.00001472 as of the latest data. This suggests that while burns attract attention, they don't always translate into immediate, large-scale price moves.