The burn rate of Shiba Inu tokens has soared by 1549.47% in the last 24 hours.
A total number of 254,005,014 $SHIB tokens were burnt in the last 24 hours.
The total amount of Shib burnt so far has exceeded 410 trillion.
However, the price of $SHIB has decreased by 2.19% to $0.00001007, and the market cap has also decreased by 2.11%.
The process of burning has direct implications on the token supply and subsequently, has possible effects on the price.
The trading volume for the past 24 hours is $110,447,620.
Despite the decrease in price and market cap, the high burn rate indicates a positive sentiment among investors and enthusiasts towards the Shiba Inu project.