Shiba Inu’s burn rate increased by 300.52%, burning 1,097,520 tokens in 24 hours.
The Shiba Inu community petition urges Binance to burn 1% of daily SHIB transactions.
Shiba Inu (SHIB) is currently facing a difficult phase as it attempts to regain market momentum. Unlike other memecoins like BREET, POPCAT, and MEW, which have recently seen huge rises, SHIB’s recovery has been noticeably slow.
At the time of writing, SHIB had fallen 1.47% over the last 24 hours to $0.00001337. This loss has pushed SHIB below Avalanche and Tron, putting it in 13th place with a market cap of $7.88 billion.
Community-Driven Efforts Aim to Boost Shiba Inu Token Burn Rate
Despite the dismal price performance, SHIB’s token burn rate has significantly increased. Shibburn shared a staggering 300.52% rise in the burn rate during the last 24 hours, with 1,097,520 tokens burned. However, this figure remains far from ideal, indicating a continued lack of meaningful transactional interest in SHIB.
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