Massive 7000% Jump in This Shiba Inu (SHIB) Metric: Bull Market Incoming?

The Shiba Inu burn rate has surged by over 7,400% in the last 24 hours, leading to over 369 million SHIB being removed from circulation.

Shibarium, Shiba Inu’s layer-2 scaling solution that launched in August, has quickly gained traction with over 3.5 million transactions and 1.3 million blocks. According to data provided by Shibburn, the asset’s burn rate has skyrocketed by over 7,400% in the past 24 hours, meaning more than 369 million SHIB were sent to an address that nobody could access. The total assets removed from circulation in the last week surpassed 630 million.The burning program adopted by Shiba Inu aims to reduce the overall supply of the token and potentially make SHIB more scarce and valuable in time.

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